Eight free ports with low-tax zones to be created in England

Chancellor says controversial policy for sites including Liverpool and Hull will ‘exemplify future economy’

Eight English ports are to become free ports under plans announced by the chancellor, who said his policy for the controversial low-tax zones would “exemplify the future economy” and “unlock billions” in investment, trade and jobs.

Businesses located within the free ports will benefit from tax breaks including no stamp duty, full rebates for construction and machinery investment, five years of zero business rates, and lower tariffs and customs obligations.