Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/282925 
Year of Publication: 
2023
Series/Report no.: 
IFS Report No. R251
Publisher: 
Institute for Fiscal Studies (IFS), London
Abstract: 
In January 2020, the UK government formally announced its intention to create a number of Freeports across the UK, with the aim of promoting job creation and regeneration, boosting trade, investment and innovation, and supporting the 'levelling up' agenda. The Freeports offer various tax and customs reliefs, simplified import and export procedures, enhanced trade promotion, and additional support for innovation, increasing their attractiveness to both domestic and international businesses. They also benefit from an injection of seed capital from central government and the full local retention of business rates revenue from qualifying new development, in order to enable investment in complementary infrastructure and skills. This report aims to provide an accessible overview of the Freeports programme, looking at existing evidence on the potential impacts of the policy, and what we may learn about its actual impacts from future evaluation.
Subjects: 
Business and investment
Employment and income
Government finances and spending
Taxes and benefits
Trade
Corporate taxes
Tax
Geography
Employment
Government spending
Innovation
Investment
National Insurance contributions
Productivity
Property taxes
Public finance
Persistent Identifier of the first edition: 
ISBN: 
978-1-80103-129-5
Document Type: 
Research Report

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