The Chair of Humber Freeport has welcomed a “major vote of confidence” in Freeports.
In detailed Budget documents published following Chancellor Rachel Reeves’s Commons statement, the Government announced the Freeports programme would align with the national industrial strategy.
It also confirmed that five new customs sites in existing Freeports will be approved shortly. These include the Humber Freeport customs site, which comprises around 10 acres on the Humber estuary waterfront, west of Grimsby.
Humber Freeport Chair Simon Bird welcomed the new Labour Government’s backing for Freeports.
He said: “This is a major vote of confidence in Freeports by the new Government. It recognises the significant progress that has been made and the crucial contribution Freeports are making to the Government’s drive for growth.
“Here in the Humber we have tangible evidence of success, with Humber Freeport tax sites having attracted well over £1bn of investment. We’re also delivering seed capital funding that is supporting major projects focused on decarbonisation, innovation and skills.
“We’re also pleased to see the announcement that the Humber Freeport customs site will be officially designated shortly, providing further opportunities for investment and growth.”
Simon Bird, Chair of Humber Freeport
Approval of customs site status has the potential to generate significant investment and new jobs by businesses importing and exporting goods from the Humber.
Benefits for businesses operating in customs sites include delays on paying tariffs on finished products and tax breaks on hiring new staff, plus possible duty exemption for goods bound for non-UK markets.
Approval for the customs site will support Humber Freeport’s core objectives for the region – to attract significant inward investment, decarbonise industry and ensure the Humber has the skills base to deliver clean economic growth.
The Budget commitment to Freeports comes just days after Prime Minister Sir Kier Starmer said in a media interview that Freeports were “working well” and his Government planned to make improvements “so they work even better”.
The Grimsby customs site sits alongside three tax sites – Hull East, Goole and Able Humber Port in Immingham – in forming Humber Freeport.
Approval for the customs site also comes as work begins on a major investment in the Hull East tax site, with Mitsubishi Chemical Group beginning the delivery of a £250m expansion of its facility at Saltend Chemicals Park.
The new production line will double Mitsubishi’s capacity at the facility, creating dozens of new jobs and safeguarding 130 existing roles.
