Freeports and Investment Zones: Tax Allowances

(asked on 24th November 2023) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an estimate of the potential impact of tax reliefs in (a) freeports and (b) investment zones on tax revenues in each financial year between 2023-24 and 2028-29.


Answered by
Nigel Huddleston Portrait
Nigel Huddleston
Financial Secretary (HM Treasury)
This question was answered on 29th November 2023

The Office for Budget Responsibility has published estimates for the potential impact of the Freeport tax reliefs in England, Scotland and Wales in economic and fiscal outlook publications at previous fiscal events as below:

- English Freeports: CP 545 – Office for Budget Responsibility – Economic and fiscal outlook – October 2021 (obr.uk) (page 205)

- Scottish Freeports: Economic and fiscal outlook - March 2023 (obr.uk) (Page 160)

- Welsh Freeports : Fiscal_supplementary_tables_receipts_and_other_November_2023.xlsx (live.com)

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