British ports have until Friday to apply for free zone status – but Labour claims only dog food producers and pet owners will benefit.
Supporters estimate freeport trade areas could trigger a 150,000 jobs bonanza, generating billions for the economy, while revitalising struggling industrial regions.
The scheme could allow areas to operate outside the UK’s customs regime, meaning taxes on imports would not apply. They can also offer tax breaks, including waiving business rates and giving companies in the free zones a holiday from paying employees’ national insurance contributions.
But Labour unearthed research from Sussex University's UK Trade Policy Observatory showing just one per cent of UK imports would significantly benefit from “tariff
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