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Dorset freeport bid fails to get go-ahead in Budget

Setback for Dorset in the budget as freeport bid fails to win approval
DORSET has suffered a blow in the budget after its application for a low-tax “freeport” was left off the list of bids approved by the government.
Chancellor Rishi Sunak announced a boost for Southampton by backing the Solent Freeport application, but did not give the green light to a scheme for Bournemouth Airport and the Port of Poole.
The setback came alongside the good news that BCP Council would receive £21.7million from the government’s Towns Fund to regenerate Boscombe.
Council leader Drew Mellor said: “We ve had some excellent feedback and we qualified against the government criteria which is a great credit to the bid partnership and we made the final ministerial decision so we re economically on the map. We’re ready and waiting for round two.” ....

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Analysis: What the Budget means for Dorset

On the morning after, we look at some of the effects the Budget could have in Dorset.

HELP FOR HOSPITALITY AND RETAIL
Dorset’s hospitality industry got some of the key concessions it asked for from the chancellor.
The reduced five per cent VAT rate for hospitality and tourism will stay in place util September 30 and will then go up to 12.5 per cent before reaching its original 20 per cent next April. Alcohol duty will also stay as it is.
For Andy Lennox, founder of the Wonky Table group that grew up to represent Dorset bars, restaurants and events companies in lockdown, that was the key concession. “We’re standing here with shattered balance sheets, heavily in debt, with little to no cash reserves,” he said. ....

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Dorset freeport bid fails to get go-ahead in Budget

Dorset freeport bid fails to get go-ahead in Budget
bournemouthecho.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bournemouthecho.co.uk Daily Mail and Mail on Sunday newspapers.

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BCP's 'London South' free port 'would be worth £1.7billion'

FREE port designation would boost the economy of Bournemouth, Christchurch and Poole by £1.7 billion over the next 20 years, according to its now… ....

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