Quote:
Originally Posted by Hugh
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Clearly, the press were a bit premature there! However, Boris has plenty of alternative ideas to offset the giveaways, including his idea for six tax-free zones. This is the kind of fresh outlook we need to reinvigorate this country post Brexit.- and it is the kind of example I drew attention to earlier that the economic forecasters would not have taken into account.
I see a bright new future ahead, and those that have been trying to reverse the democratic decision of this country will scarcely be able to comprehend what has happened.
https://www.telegraph.co.uk/politics...-zones-around/
Half a dozen Singapore-style tax-free zones could be established around Britain to drive forward the economy after Brexit under proposals being considered by Boris Johnson.
The Conservative leadership favourite confirmed that creating tax-free zones in ports - where goods can be landed in the UK but not be subject to any duties - was part of his vision for the country after Britain leaves in October.
Ports on the UK’s east coast including Teesside, Aberdeen and Peterhead could become economic zones, considered independent for customs purposes, that charge no taxes or tariffs on imports.
Singapore is considered a tax haven because of its low personal and corporate tax rates and other incentives for foreign investors.
Mr Johnson said: "That's the sort of thing we can do. But first we've got leave the EU. We could do free ports, we could get a massive boost for this economy, but only once we've come out.
"I want to have about six of them. We should definitely be doing free ports and tax free zones. They have delivered around the world, there are about 130 countries who have them. We don't because of our membership of the EU.
"There are plainly areas that would benefit from them. We will build them all over the place, particularly Northern Ireland."
The proposal - also backed by Mr Johnson's rival Jeremy Hunt - was welcomed by the Federation of Small Businesses, which said it “would be transformational for this society, whether you are a unionist, nationalist or neither”.