Tag: chancellor

UK Chancellor Rishi Sunak fires starting gun on post-Brexit freeports

Britain's chancellor Rishi Sunak. Photo: Andrew Fox/Pool Photo via AP
Britain’s chancellor Rishi Sunak. Photo: Andrew Fox/Pool Photo via AP

The chancellor has officially announced plans to set up post-Brexit “freeports” in Britain — special low-tax business zones aimed at attracting international trade to the UK.

Rishi Sunak on Tuesday said the bidding process to become a freeport will be launched before the end of the year. Airports, rail hubs, and sea ports will all be eligible to apply for the status and the government is hoping to establish at least one freeport in each nation of the UK.

“Our new Freeports will create national hubs for trade, innovation and commerce, regenerating communities across the UK and supporting jobs,” Sunak said in a statement.

Freeports are special trade zones that do not function under the same tax rules as the rest of a nation. British freeports will enjoy simplified customs procedures and tax breaks on goods passing through.

READ MORE:

Read More

UK chancellor extends coronavirus schemes deadline

  • The UK Chancellor has extended the deadline for all four government coronavirus support schemes.
  • The government also announced that the BBLS and CBLILS can be repaid over 10 years rather than six.
  • Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry with the Fintech Briefing. You can learn more about subscribing here.

The UK Chancellor of the Exchequer has extended the deadline for all four government support schemes to the end of November, Crowdfund Insider reports.

Areas UK SMBs would like the government to focus on over the next five years

UK government extends coronavirus support schemes for small businesses.

Business Insider Intelligence


The Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CBLILS), the Bounce Back Loan Scheme (BBLS), and the Future Fund provide small- and medium-sized businesses (SMBs) with access to government-guaranteed loans amid the pandemic.

The government also announced that the BBLS and CBLILS can be repaid over 10 years rather than six, and

Read More