Freeports are special economic zones with “distinct rules that make doing business easier and less expensive,” as Rishi Sunak stated in 2021. In England, there are already eight freeports open for business.
Scotland will receive two new freeports in Cromarty Firth and the Forth. Which, according to Downing Street, will contribute to the creation of almost 75,000 new skilled employment.
The UK and Scottish governments have jointly declared that Inverness and Cromarty Firth Green Freeport and Forth Green Freeport have been awarded £52 million by the UK government to build new green freeports.
According to the government of Rishi Sunak, the new sites will “help to even out Scotland” by attracting an estimated £10.8 billion in private and governmental investment.
Late in 2023, both new green freeports are anticipated to become operational.
The declaration comes during Mr. Sunak’s first trip to Scotland as prime minister.
It is believed that he and Scotland’s First Minister Nicola Sturgeon met privately in Inverness on Thursday to discuss the economy and the National Health Service.
The Prime Minister stated that the establishment of two new freeports will enable the United Kingdom and Scottish governments in meeting their goals to transition to net-zero emissions and “bring jobs and investment to the region.”
“Working together produces results, and I am ecstatic that the first minister. And I can announce the achievement of our common goal for the people of Scotland with not one. But two fantastic green freeport zones,” he added.
Michael Gove, Secretary of State for Leveling Up, stated that the two freeports will “undoubtedly be transformative for future generations.”
Scotland to get two new freeports in Firth of Forth and Cromarty Firth
The news was hailed as a “milestone achievement” by Scotland’s Deputy First Minister, John Swinney.
Both locations will get up to £26 million in UK government support, according to Scottish Secretary Alister Jack. “Which will spur innovation, generate high-quality jobs, and drive redevelopment for the benefit of the entire country of Scotland.”
He continued, “UK freeports are an important component of the UK government’s leveling up strategy. They will provide wealth and growth that is crucial as we confront the difficulties of rising energy prices and the rising cost of living.”
During the bidding process, consortiums were required to present ideas proving to officials and ministers from both governments. How they would regenerate local communities, deliver decarbonization, build global commerce centers. And nurture an innovative environment to enable leveling up.
The Forth Green Freeport site comprises the Grangemouth, Rosyth, and Leith ports, Edinburgh Airport, and a location in Burntisland.
The Inverness and Cromarty Firth Green Freeport site comprises the Inverness. Cromarty Firth, and Nigg Ports as well as the Inverness Airport.
Both aim to accelerate the transition to net-zero emissions by 2045.
In England, eight freeports are now operational, and locations in Plymouth and South Devon, Solent, Teesside, Liverpool. And East Anglia have just received final government clearance.
Lisa Nandy, the shadow secretary for leveling up, urged the administration to be “far more ambitious.”
She stated, “Freeports are not new and are not the solution to the country’s lack of growth after 13 years of Conservative economic failure.”
More and more data suggests that these modest plans will do little to reduce the enormous regional disparities in the United Kingdom.
