Economics
U.K. Names Eight Freeports in Bid to Boost Post-Brexit Trade
- Initiative aimed at growing trade while adding green jobs
- Districts spread across country in bid to lift manufacturing
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U.K. Chancellor Rishi Sunak unveiled a roster of eight English freeports, low-tariff business zones being created to stimulate trade and investment in the wake of Brexit and the coronavirus crisis.
The winning bids came from ports scattered across England, including the Thames river estuary near London. At least one will be named later in each of Scotland, Wales and Northern Ireland, Sunak said Wednesday in a budget speech.