William Eichler 25 June 2019

Post-Brexit free trade zones could ‘rebalance the economy’, think tank claims

Post-Brexit free trade zones could ‘rebalance the economy’, think tank claims image

The Government should establish free trade zones in the UK’s most deprived areas in the wake of Brexit in order to incentivise economic growth and rebalance the economy, a think tank has argued.

A new report from the Centre for Policy Studies (CPS) shows that London and the South East dominate trade and foreign direct investment (FDI) in the UK.

Together the two areas are responsible for 43% of Britain’s exports, and over half of all new inward FDI projects between 2015 and 2018.

The report, which is entitled Tipping the Balance and is to be launched today at the CPS’ ‘Margaret Thatcher Conference on Britain and America’, argues that Whitehall should create ‘Opportunity Zones’ in the most deprived parts of the UK.

These zones, alongside ‘free ports’, would offer tax incentives to businesses which would encourage firms to locate their operations to areas where the economy requires a boost.

‘We all know that Britain’s economy suffers from alarming regional inequality,’ said Robert Colvile, CPS director.

‘To make the most of Brexit, we need not just to boost trade but to ensure that those regions that have been left behind are given the tools to compete for it.

‘Opportunity Zones and free ports can help spread prosperity beyond London, offering a tangible post-Brexit boost to some of our most deprived communities.’

Overcoming the barriers to Commercial Card use image

Overcoming the barriers to Commercial Card use

Want to reap the benefits of Commercial Cards but coming up against some challenges? James Sykes, Head of Commercial Cards, Lloyds Bank and David Legg, Head of Corporate Card Products, Lloyds Bank, discuss how the payments industry is helping organisations unlock their true value.
SIGN UP
For your free daily news bulletin
Highways jobs

Environmental Health/Environmental Protection Officer - Noise

Tower Hamlets London Borough Council
£41,607.00 - £44,598.00
This post attracts an essential car user allowance. The post holder is able to take part in the Council's flexible working scheme. Tower Hamlets, London (Greater)
Recuriter: Tower Hamlets London Borough Council

Director of Financial Services (Deputy Section 151)

London Borough of Waltham Forest
£110,118 to £118,864
his is a great opportunity to develop the skills and knowledge that will lead to becoming a Section 151 Officer. Waltham Forest, London (Greater)
Recuriter: London Borough of Waltham Forest

Director of Business Development

North Yorkshire County Council
50-60k + relocation allowance
We are looking for a dynamic and innovative person to help us deliver our ambitious new strategic objectives set out in... North Yorkshire
Recuriter: North Yorkshire County Council

Strategic Service Manager - Bridgend Youth Justice Service

Bridgend County Borough Council
£44,863 - £45,859 per annum
An exciting opportunity has presented to lead Bridgend Youth Justice Service. Bridgend (Pen-y-bont ar Ogwr)
Recuriter: Bridgend County Borough Council

Corporate Property Surveyor

Ashford Borough Council
£34,476 to £37,158 pa - plus Lease Car or Cash alternative of £2,080 pa
Ashford Borough Council has a long and proud record of driving high quality place making. Ashford, Kent
Recuriter: Ashford Borough Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue