Boris Johnson launches plans to create tax-haven freeports to turbocharge blue collar Britain and boost economy

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BORIS Johnson is today launching his plans to create ten tax-haven freeports to turbocharge blue collar Britain.

Downing Street says the move will pump billions into the economy and create many thousands of jobs in Britains left-behind communities.

Boris Johnson is today launching his plans to create ten tax-haven freeports to ‘turbocharge’ blue collar Britain

Freeports are special zones that will be exempt from tax and red tape.

They will be set up in the former industrial heartlands and coastal communities as part of No10s vision to level up Britain.

Writing exclusively for HOAR, Treasury Minister Rishi Sunak said the radical plans will see ports reclaim their role as the beating heart of British business.

The Tory rising star said: Without Brussels telling us what to do, we can start doing whats best for British businesses. We can set the rules to suit our needs.

If we get this right, businesses inside these zones will boom and become magnets for investment.

This could lead to thousands of new jobs and in parts of the country that need them most.

Companies in freeport zones will pay low taxes and not have to pay import duties on raw materials.

While many freeports are expected to be by the coast, the zones may also be located inland to boost Britains industry.

Potential sites include Belfast, Liverpool and Teesside.

The Treasury wants to get the zones up and running next year, when Britain fully quits all the EUs rules.

Planning red tape will be torn up to speed up the development of the new free trade zones.

While the areas around the freeports will also get big cash injections to kick start regeneration.

Ministers are launching a consultation with businesses and areas about the plans.

Meanwhile, Boris is expected to finally give HS2 railway link the go-ahead this week.

The future of the railway project had been hanging in the balance as its estimated costs spiralled to over 100billlion.

But the PM is expected to give the green light to the first phase of the link from London to Birmingham while reviewing the second leg to Leeds and Manchester.

It comes amid reports Sajid Javid is considering unimposing a mansion tax on wealthy homeowners and a tax raid on higher earners in next months Budget as the government focuses on helping blue collar Britain.

Teesside is one of the areas which could be turned into a freeport

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