Tuesday 15 February 2022

UK and Scottish Governments strike a deal on “green freeports”

The UK and Scottish Governments have agreed on a deal to establish two "green freeports" in Scotland.

Freeports are special economic zones offering tax breaks and lower tariffs for businesses.

The idea was brought forward by the UK Government to strengthen regional economies in England.

The bidding process is expected to begin in the spring and it will require applicants to set out how they will support a just transition to net zero emissions by 2045 and fair work practices.

UK Ministers will provide up to £52 million in seed funding to help establish green freeports.

Secretary of State Michael Gove said: “Green freeports help inject billions into the local economy, while levelling-up by creating jobs for local people, and opportunities for people all over the UK to flourish."

Scotland's Economy Secretary Kate Forbes said: “Scotland has a rich history of innovative manufacturers and so as we look to grasp the many opportunities of achieving net zero, the establishment of internationally competitive clusters of excellence will help us create new green jobs, deliver a just transition and support our economic transformation.

“We can only seize Scotland’s economic potential if we create secure, sustainable and satisfying jobs that also help build a fairer, more prosperous economy for everyone."