Asked by: Alyn Smith (Scottish National Party - Stirling)
Question to the Department for Levelling Up, Housing & Communities:
To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment he has made of the return of investment from Freeports for (a) the UK economy, (b) the Scottish economy and (c) shareholders and private investors.
Answered by Jacob Young - Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)
The Government has evaluated the public benefit and value for money each Freeport will deliver through the competitive process for selecting Freeport locations and subsequently through a robust business case process. Once approved, these business cases, including details of the benefits the Freeport will deliver, are published online. To ensure Freeports are delivering these returns to the UK and Scottish economies, the Government is also monitoring and evaluating their delivery; our approach is published here.
This allows us to identify the impacts Freeports are already having: for example, we announced in November 2023 that Freeports have already generated £2.9 billion in investment in under two years, which will in turn create 6,000 jobs. It also enables us to monitor the suitability of the Freeports package and identify opportunities to enhance and double down on it. For example, we have recently extended the tax reliefs in Freeports from five to ten years and launched a £150 million flexible Investment Opportunity Fund to secure specific business investment opportunities.
Asked by: Baroness Smith of Llanfaes (Plaid Cymru - Life peer)
Question to the Wales Office:
To ask His Majesty's Government what discussions they have had with the Welsh Government on the implementation of the recommendations of the Independent Commission on the Constitutional Future of Wales.
Answered by Lord Harlech - Lord in Waiting (HM Household) (Whip)
The UK Government has had no discussions with the Welsh Government on the implementation of the recommendations of the Independent Commission on the Constitutional Future of Wales.
The Commission was established by and reported to the Welsh Government. The Counsel General shared an update on the Welsh Government's consideration of the Commission’s final report with the Inter-Ministerial Standing Committee in March.
UK Government Ministers have regular discussions with Welsh Ministers on a wide range of issues. Many such discussions focus on our joint work to support economic growth and jobs in Wales, including through delivering Freeports, Investment Zones and City and Growth Deals.
Mentions:
1: David T C Davies (Con - Monmouth) five towns funds, four growth deals, three rounds of levelling-up funding, two investment zones, two freeports - Speech Link
Written Evidence May. 07 2024
Inquiry: City Region and Growth DealsFound: spending upon economic development in Scotland and new UK initiatives such as investment zones, green freeports
Mentions:
1: Gareth Davies (Con - Grantham and Stamford) prosperity fund, levelling-up fund and towns fund, but the 13 devolution deals, 13 investment zones and 12 freeports - Speech Link
Written Evidence May. 03 2024
Inquiry: The Governance of the Union: Consultation, Co-operation and Legislative ConsentFound: resulted in the announcements of energy and household support schemes across the UK, as well as Green Freeports
Found: Governments, meaning tax reliefs will be available until September 2034 in tax sites in Scottish Green Freeports
May. 02 2024
Source Page: 3/2024: Freeports, Investment Zones, Improvement and Film Studio ReliefsFound: 3/2024: Freeports, Investment Zones, Improvement and Film Studio Reliefs
Mentions:
1: Virginia Crosbie (Con - Ynys Môn) Celtic freeport in south Wales and Teesside freeport show the potential of freeports to boost our manufacturing - Speech Link
Mentions:
1: Ewing, Fergus (SNP - Inverness and Nairn) cons; we cannot put all the eggs in one basket.As a supporter of renewables—particularly the green freeports - Speech Link