Related insights: Commercial

UK Freeports: what happens now?

20 Apr 2021
The locations of the UK’s eight new Freeports have been announced with the promise of simpler planning, favourable customs tariffs and duties, and tax breaks to encourage growth and investment. But what should you do now? 
Thumbnail

Freeports in the UK: how will they work in practice?

17 Mar 2021
In the 2021 Spring Budget, Chancellor Rishi Sunak announced the location of eight Freeports/Free Zones in England following a competitive bidding procedure launched in Autumn 2020. Press coverage and social media commentary was generally positive. However, there is a risk that those positive responses stem from a misunderstanding of the detailed proposals, and that a degree of expectation-management will be required to ensure that businesses take appropriate steps depending on whether they are within or outside the relevant parts of a designated Freeport/Free Zone.

Freeports will be a vital boost towards the UK's post COVID-19 economic and social recovery

03 Mar 2021
We are highly supportive of the government's Freeport initiative and the Chancellor's announcements today in relation to the creation of eight new style Freeports across the UK. The decision shows a real willingness to take concrete steps along the long road to levelling up the country. It will provide a vital boost towards the regeneration of parts of the country which need it most and also support their post COVID-19 economic and social recovery.
Thumbnail

UK Freeports: The story so far

03 Mar 2021
Following the EU referendum in 2016, Rishi Sunak presented a case for British Freeports and the potential and opportunity this presented as a fast response to Brexit. With the vision that successful Freeports would allow the country to level up, increase productivity, shift regional imbalance, and reinvigorate the North, as well as promoting and incentivising global trade.
Thumbnail

Any port in a storm: a cautionary tale in drafting

11 Feb 2021
In a recent decision in the Admiralty Court before Mr Admiralty Registrar Davison, the Court considered the application of the recently enacted section 233B of the Insolvency Act 1986. Whilst the conclusions reached on that provision are perhaps less surprising given its wide remit, the decision raises some interesting points for contract lawyers on the formation of contracts and the reasonableness of their terms.