Tim Jarvis and Robert O’Hare (Squire Patton Boggs) examine the English freeports tax offering and consider whether it provides an insight on government policy more generally.
The Freeports Bidding Prospectus (see bit.ly/35e408D) was launched in November 2020. The document is lengthy but addresses several technical policy design considerations. This article focuses on the tax offering but also highlights several key characteristics that might help illuminate the government’s thinking on post-Brexit and (hopefully soon) post-pandemic fiscal policy.
Why freeports?
A UK freeport is intended to achieve three main objectives. Each objective mirrors one of the government’s core policy goals namely:
‘global Britain’: a freeport should be a national hub for global trade and investment across the UK;
‘levelling-up’: a freeport should promote regeneration and job creation; and
‘build back better’: a freeport should create a ‘hotbed’ for innovation.
It is little wonder the government views freeports as ‘a...
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Tim Jarvis and Robert O’Hare (Squire Patton Boggs) examine the English freeports tax offering and consider whether it provides an insight on government policy more generally.
The Freeports Bidding Prospectus (see bit.ly/35e408D) was launched in November 2020. The document is lengthy but addresses several technical policy design considerations. This article focuses on the tax offering but also highlights several key characteristics that might help illuminate the government’s thinking on post-Brexit and (hopefully soon) post-pandemic fiscal policy.
Why freeports?
A UK freeport is intended to achieve three main objectives. Each objective mirrors one of the government’s core policy goals namely:
‘global Britain’: a freeport should be a national hub for global trade and investment across the UK;
‘levelling-up’: a freeport should promote regeneration and job creation; and
‘build back better’: a freeport should create a ‘hotbed’ for innovation.
It is little wonder the government views freeports as ‘a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
