Chancellor's 2021 budget commits further support for ports

Chancellor Rishi Sunak unveiled in his 2021 budget announcement that East Midlands Airport, Felixstowe & Harwich, Humber, Liverpool City Region, Plymouth and South Devon, Solent, Teesside and Thames have been successful in the Freeports bidding process for England. Subject to agreeing their governance arrangements and successfully completing their business cases, these Freeports will begin operations from late 2021.

The Freeports will contain areas where businesses will benefit from more generous tax reliefs, customs benefits and wider government support, bringing investment, trade and jobs to regenerate regions across the country that need it most.

Discussions continue between the UK Government and the devolved administrations to ensure the delivery of Freeports in Scotland, Wales and Northern Ireland as soon as possible.

Chancellor Sunak also announced further support for ports supporting the UKs offshore wind industry in an effort to progress the government’s plan to generate enough electricity from offshore wind to power every home by 2030.

The budget revealed that an offer of support in principle has been issued to the Able Marine Energy Park (AMEP), Humberside, following the conclusion of the competition to upgrade ports infrastructure for the next generation of offshore wind. AMEP represents a c.£500m investment with the aim to provide 1,349m of new deep-water quays and a land area designated for offshore wind of around 217 ha (536 acres). AMEP’s primary activities will cover the manufacture, storage and installation of offshore wind components.

Sunak announced that government will sign a memorandum of understanding with Teesworks Offshore Manufacturing Centre, Teesside, to support the development of another offshore wind port hub.

Image source:
Chris McAndrew , CC BY 3.0, via Wikimedia Commons

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