The U.K. government has announced the creation of eight new “freeport” locations in the UK and allowed businesses to offset 130 percent of their spending on plant and machinery against their profit margins in a so-called “super-deduction” tax cut. Both policies are expected to boost the industrial and logistics sector in the United Kingdom.
Freeports allow companies to trade goods at lower tax and customs levels and could boost the United Kingdom’s flagging economy, by encouraging new investment into the country and creating thousands of new jobs.
The policies, revealed as part of the U.K. government’s latest fiscal plans, have numerous positive implications on the industrial, logistics and manufacturing sectors, says Claire Williams, a research associate at Knight Frank’s industrial and logistics team. “The unveiling of eight new freeport status locations
