Levelling Up Minister, Neil O’Brien, has written to Hornchurch & Upminster MP, Julia Lopez, this week to confirm that the Thames freeport will be able to begin initial operations from this month.
The Thames freeport was given the green light in March’s Budget, and the Chancellor announced in last week’s Budget that the Thames site will be the first of three in the country to go live with special tax advantages from November.
Freeports are specialised economic zones with different rules to make it easier and cheaper to do business. DP World and Forth Ports have been progressing the Thames Freeport with London Gateway, the Port of Tilbury, Ford Dagenham and the Thames Enterprise Park (TEP) at its heart – highlighting the role of the River Thames in a prosperous, global Britain. TEP will be a customs sub-zone. Mrs Lopez has been working with involved parties for the last eighteen months to advance the proposal and highlight its potential to help create an automotive hub in London focussed on developing automated, connected, electric vehicles.
In his letter to Mrs Lopez, Minister O’Brien wrote, ‘I appreciate how important Freeports are to you and I am grateful for your endless support to deliver this programme. Freeports are a cornerstone of the Government’s plan to drive post-COVID recovery and level up the country. This exciting milestone represents an important next step on the journey and signals confidence to investors and businesses, including those in your constituency, to seize on opportunities presented by Freeports.’
The confirmation of a Thames freeport will bring jobs, investment and regeneration into the Thames Gateway region and benefit thousands living throughout Havering, Essex, and East London.The Estuary offers unique advantages to businesses thanks to its proximity to London, excellent transport links and the river itself - a thriving hub for import and export as the UK makes use of new economic flexibilities outside the European Union.
Welcoming the confirmation in last week’s Budget, Julia Lopez MP, said ‘It was great to see the Chancellor confirm that Thames freeport will be among the first three new freeport sites - an endorsement of the huge potential of the Estuary. I pledged at the 2019 election to deliver the kind of regional development that could provide local jobs, skills, and investment in industries of the future. I hope residents in Hornchurch and Upminster will benefit from the transformation this freeport will bring.’
Attached
- Letter from Minister O’Brien to Julia Lopez MP
- Media release from Thames Freeport
