AND IT's REDCAR

these free ports sound too good to be true... yeah there may be jobs but where will all the tax revenue go that they save? straight into the riches coffers...

someone suggested that theye wont have to pay workers NI contributions either so these gaps would need to be met somewhere

tbh i dont really know enough about them but im guessing it will benefit the rich more than the needy...
 
Forgive my complete naivety on the subject, but do goods actually need to be imported/exported to classify for tax-free status. Or could, for instance, a service employer set up in the port and pay no tax?
 
There used to be freeports in the 80/90's iirc but they abolished them ?

I'm no expert but is it a bit like giving a huge grant to the likes of Nissan to stay put, but rather than it being up front we're saying to companies that they can operate without the tax burden ?
 
Forgive my complete naivety on the subject, but do goods actually need to be imported/exported to classify for tax-free status. Or could, for instance, a service employer set up in the port and pay no tax?
Say a manufacturer sets up, all the components required don't carry import duty and the finished product avoids export duty ... basically huge tax breaks = massive advantage to bring in industry.
 
Say a manufacturer sets up, all the components required don't carry import duty and the finished product avoids export duty ... basically huge tax breaks = massive advantage to bring in industry.
What happens if those products are exported to the EU?
 
If they are so good, why did the government get rid of them?
In what way? They currently exist within the EU.

Basically the Tories at the time didn't renew the existing licences because they were largely unnecessary.

If most of your trade is with your close neighbours that you have an extensive trade-deal with the benefits of Free-Ports are lost.

The whole JIT nature of EU manufacturing was based around the same idea as FPs but just dealt with it differently.

Existing FPs in the EU are largely in areas that need the economic boost that the FP can still give within a country (e.g. moving jobs to that location as opposed to creating new jobs) - as opposed to them being used as a means for external trade (as far as I can tell - happy to be corrected with examples).
 
No idea lol
The EU do hate freeports though and the reason they were pulled is probably to do with that .
The answer in the link above

In any case, goods entering a freeport tariff-free will still have to pay tariffs once they enter the UK or any other country. “You're not actually eliminating the tariffs: you're just differing when they get paid. It's not easy to see what the benefits are with that
 
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