Britain plans to create 10 free ports

Post-Brexit UK to announce 10 new free ports

Post-Brexit UK to announce 10 new free ports

"The government has confirmed plans to introduce import controls on European Union goods at the border after the transition period ends on 31 December 2020", a government statement said.

With Brexit done, the United Kingdom plans to announce the location of up to 10 new free ports - scheduled to begin operating in 2021 - by the end of this year, the government said.

Freeports will "unleash the potential of our historic ports, creating jobs and regenerating communities across the UK", Truss said.

After a 10-week consultation, the government will invite "sea, air and rail ports" to bid for the freeport zones on a competitive basis, according to the statement.

Prime Minister Boris Johnson has said Britain will not obey the bloc's regulations, setting a hard stance on the upcoming negotiations. They can also be used to import raw materials and make finished goods for export.

Meanwhile, the government is considering new tax measures with an aim to enhance investment, stimulate innovation and cut costs.

BREXIT 2020

It is also pressing for full market access for US pharmaceutical products and medical devices, which would require changes to Britain's National Health Service (NHS) pricing restrictions and could increase the cost of drugs.

By boosting spending in northern England and the Midlands, Johnson is looking to reduce regional disparities and reward areas where lifelong Labour supporters backed his Conservatives in the election.

Freeports will provide opportunities for "cutting edge" customs, transport and green technologies to be trialled in "controlled environments", before being adopted more widely in relevant sectors of the economy, it said.

"This plan only represents a "levelling-up" for the super-rich, who will use free ports to hoard assets and avoid taxes while the rest of us feel the effects of under-funded public services". The European Commission said past year that free ports were vulnerable to money laundering or terrorism financing.

"This is all part of our mission as an open, outward-looking country, championing global free trade with vibrant free ports".

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