William Eichler 25 June 2019

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

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.’

SIGN UP
For your free daily news bulletin
Highways jobs

Residential Worker

Essex County Council
£27934.00 - £35344.00 per annum + + 26 Days Leave & Local Gov Pension
Residential WorkerPermanent, Full Time£27,934 up to £35,344 Per Annum (includes allowance) equal to £14.48 to £18.32 Per HourLocation
Recuriter: Essex County Council

Early Years Keyworker

Royal Borough of Greenwich
£37,068 - £38,058
Want to make a difference for children with special educational needs in Greenwich? Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Early Years Area SENCo

Royal Borough of Greenwich
£39,855 - £42,324
Have you got extensive experience in working within Early Years, with a clear understanding of child development Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Young Persons Substance Misuse Service Pathfinder

Royal Borough of Greenwich
£31,524 - £32,931
Are you looking to change the lives of young people? Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Senior Regulatory Compliance Officer

Royal Borough of Greenwich
£37,068 - £38,058
You will be an apprentice embedded within the Trading Standards team. Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich
Linkedin Banner