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.’

Fair funding delay image

Fair funding delay

The delay to the fair funding review can only add to anxiety over the future of local government, says Mark Whitehead
Highways jobs

Senior Traffic Engineer

East Riding of Yorkshire Council
£32,029 - £34,788 per annum
Currently seeking an enthusiastic and experienced individual to manage our Traffic Team. East Riding of Yorkshire
Recuriter: East Riding of Yorkshire Council

Youth and Community Based Commissioner- Colchester and Tendring

Essex County Council
£18117 - £19106.0 per month
Annual Salary JNC SCP 3 - Unqualified £18,117JNC SCP 6 - Qualified £19,106 We are currently seeking a Youth and Community Based Commissioner to suppo England, Essex, Colchester
Recuriter: Essex County Council

Networks Technician

Essex County Council
£24001.0 - £28280 per annum
Technology Services is focused on ensuring current and future investment in technology to maximise the opportunities to support ECC from a technology England, Essex, Basildon
Recuriter: Essex County Council

Youth Worker x7

Sandwell Metropolitan Borough Council
£18,795 - £19,945 per annum
Looking for a Youth Worker who can meet the needs and aspirations of young people and deliver high quality Youth Work. Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council

Customer Specialist

Essex County Council
£20001.0 - £22220.0 per annum
Essex County Council (ECC) are currently recruiting for a Customer specialist within the Technical Processing and Optimisation Team. The Team is respo England, Essex, Chelmsford
Recuriter: Essex County Council

Local Government News

Latest issue - Local Goverrnemnt News

This issue of Local Government News explores how councils can tackle modern slavery and trafficking in their supply chains, finds out more about Cambridge's first cohousing scheme and the launch of a new project to build a shared service pattern library for local government.

This issue also contains a special focus on children's services and how councils are protecting children following local safeguarding children boards being abolished.

Register for your free magazine