Saturday 3 August 2019

"Race to the Bottom": Ten New Freeports in Post-Brexit UK?

Elizabeth Truss, the UK’s new international trade secretary (who apparently believes tea is grown in Yorkshire), has announced plans to create up to 10 “freeports” to boost trade after Britain leaves the EU. Robert Wright 'Liz Truss to announce ‘freeports’ in plan to boost post-Brexit trade' Financial Times 1st August 2019
Barry Gardiner, shadow international trade secretary, echoed criticisms from some economists [...] “It is a race to the bottom that will have money launderers and tax dodgers rubbing their hands with glee,” said Mr Gardiner.
Probably dodgy art dealers too if European experience is anything to go by. The EU Parliament wants to scrap the freeport system in an effort to fight money laundering. So Britain aims to become an offshore island that is a criminals' haven now.

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