Liverpool’s freeport could be operational by the autumn after a full business case was submitted to the Government.
Liverpool City Region Combined Authority (LCRCA) confirmed this afternoon that it is now awaiting feedback from Whitehall to its proposals to become one of seven freeport sites in England. Freeports are special economic zones with different rules to make it easier and cheaper to do business - and designated zones where the normal tax and tariff rules of the country do not apply.
It is thought around £850m could be added to the local economy through the new freeport. Should the business case be approved, £25m of funding will be awarded with a report to the LCRCA heard this afternoon detailing that work could begin from the autumn.
