• Latest
  • Trending
Scottish free ports could be short-changed by ‘unfair’ Westminster funding formula

Scottish free ports could be short-changed by ‘unfair’ Westminster funding formula

Gates Cambridge Scholarship celebrates 20th anniversary

Gates Cambridge Scholarship celebrates 20th anniversary

Israel-Gaza conflict rages as US envoy visits

Israel-Gaza conflict rages as US envoy visits

Police and Crime Commissioner to end funding for heroin addiction treatment scheme

Police and Crime Commissioner to end funding for heroin addiction treatment scheme

News Press Live
  • Home
  • News
    • All
    • Crime
    • Economy
    • News of England
    • News of Northern Ireland
    • News of Scotland
    • News of Wales
    Gates Cambridge Scholarship celebrates 20th anniversary

    Gates Cambridge Scholarship celebrates 20th anniversary

    Israel-Gaza conflict rages as US envoy visits

    Israel-Gaza conflict rages as US envoy visits

    Police and Crime Commissioner to end funding for heroin addiction treatment scheme

    Police and Crime Commissioner to end funding for heroin addiction treatment scheme

    Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

    Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

    Horse Racing Getting back on track

    Rochdale hopes machine centre will manufacture revival in fortunes

    The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

    The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

    Convoy drives through London shouting  the Jews, rape their daughters’

    Convoy drives through London shouting the Jews, rape their daughters’

    Conflict intensifies in Gaza as Israeli strikes destroy Gaza tower housing

    Trending Tags

      • Crime
      • Economy
      • News of England
      • News of Northern Ireland
      • News of Scotland
    • Royal Family
    • Tv & Showbiz
    • World News
    • JOBS
    • Sport
      • Football
      • Watch Live Score Football (Soccer) Videos
    • Login
    • Register
    • Latest Headlines
    • Advertise With Us
    • Find A Job
    Monday, January 30, 2023
    Watch Live Sport
    • Home
    • News
      • All
      • Crime
      • Economy
      • News of England
      • News of Northern Ireland
      • News of Scotland
      • News of Wales
      Gates Cambridge Scholarship celebrates 20th anniversary

      Gates Cambridge Scholarship celebrates 20th anniversary

      Israel-Gaza conflict rages as US envoy visits

      Israel-Gaza conflict rages as US envoy visits

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme

      Police and Crime Commissioner to end funding for heroin addiction treatment scheme

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      Horse Racing Getting back on track

      Rochdale hopes machine centre will manufacture revival in fortunes

      The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

      The sad state of Cardiff city centre after a year of lockdown as shops lose fight to hold on

      Convoy drives through London shouting  the Jews, rape their daughters’

      Convoy drives through London shouting the Jews, rape their daughters’

      Conflict intensifies in Gaza as Israeli strikes destroy Gaza tower housing

      Trending Tags

        • Crime
        • Economy
        • News of England
        • News of Northern Ireland
        • News of Scotland
      • Royal Family
      • Tv & Showbiz
      • World News
      • JOBS
      • Sport
        • Football
        • Watch Live Score Football (Soccer) Videos
      No Result
      View All Result
      News Press Live
      No Result
      View All Result

      Scottish free ports could be short-changed by ‘unfair’ Westminster funding formula

      Scottish free ports could be short-changed by ‘unfair’ Westminster funding formula
      15.4k
      VIEWS
      Share on FacebookShare on Twitter

      Scottish free ports could be short-changed by millions of pounds under an “unfair” Westminster funding formula, a senior MP has claimed.

      Several ports in the north-east, including Aberdeen, have bid to take part in Chancellor Rishi Sunak’s free port scheme – which promises to create between 80,000 and 150,000 jobs nationally.

      The intention is to open at least seven free ports in England and another three in Scotland, Wales and Northern Ireland.

      The Treasury has earmarked £175million in seed capital for free ports in England, while ports in the devolved nations will receive funding through the Barnett formula.

      Western Isles MP Angus MacNeil, who chairs the Commons international trade committee, warned the funding arrangement could end up seeing some free ports being treated “more equal than others”.

      SNP MP Angus Brendan MacNeil

      His comment came after Treasury minister Stephen Barclay told his committee: “The Barnett formula is the key arrangement we have in terms of sharing resources across the UK, so in the the normal way £175 million will then be subject to Barnett consequentials.”

      Mr MacNeil responded: “If I can stop you there, if there’s £175 million to be spent, let’s say on nine free ports in England, that will work out at about £19million per free port, if you Barnettise it, that would only be £15million.

      “You’re telling us that the free port advantage to an English free port is going to be considerably greater than the free port funding for a Scottish free port coming from the Westminster government.”

      The minister refused to accept the point, telling MPs that the “main benefit isn’t the seed funding”.

      Mr Barclay went on to argue that Scotland overall receives more funding per head of the population through the Barnett formula than England and as a result the shortfall in seed cash could be made up that way.

      “It will be for the Scottish Government through Barnett, as it does in other areas of policy, to determine how overall funding is allocated within their devolved responsibility”, he said.

      🚨 UK Freeports 🚨

      📢 We are beginning our oral evidence session on UK Freeports.

      🔎 We will be questioning @SteveBarclay Chief Secretary to @hmtreasury and @LukeHall Minister for Regional Growth and Local Government @mhclg

      📺 Watch the session here: https://t.co/4CXTpk4Ahn pic.twitter.com/l6UiBaPFhR

      — International Trade Committee (@CommonsIntTrade) February 24, 2021

      Mr MacNeil ended the exchange saying: “There’s a funding disparity for free ports, whether they be in England or one of the devolved nations.

      “The seed funding is starting off on a very a disproportionately unfair foundation.”

      A free port is a zone within a country that is treated, for customs purposes, as an independent jurisdiction. This means goods can be manufactured, imported and exported in the zone without incurring normal barriers to trade such as tariffs and customs duties.

      Supporters of the idea argue that introducing free ports has already been successful in countries such as the United Arab Emirates, where the Jebel Ali free zone in Dubai now hosts 7,000 global companies, employs 145,000 people and accounts for around 40% of the UAE’s total direct foreign investment.

      Opponents of the policy have warned, however, that they can bring “all sorts of potential risks” – from money laundering to a cut in local authority business rate revenue.

      — to www.pressandjournal.co.uk

      Share308Tweet193SendSendShare54Pin69

      RelatedPosts

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk
      Economy

      Nicola Sturgeon’s own economic adviser warns Indyref2 puts recovery at risk

      Joe Biden opposes guarded border between Ireland and Northern Ireland | US News
      BREAKING NEWS

      President Biden Promises to Slash Greenhouse Gas Emissions by 50 Percent by 2030

      Champions League last 16 lowdown, team news, stats: Liverpool boost, PSG revenge? | Football News
      BREAKING NEWS

      Juventus chairman Andrea Agnelli says European Super League can no longer go ahead

      Prince Harry Shares What Remembrance Means to Him Ahead of Remembrance Sunday
      BREAKING NEWS

      Prince Harry ‘back in the UK’ ahead of Duke of Edinburgh’s funeral on Saturday

      Prince Philip is dead
      BREAKING NEWS

      Prince Philip is dead

      Boy, 15, charged with stabbing female police officer in London
      BREAKING NEWS

      A serving Metropolitan Police officers is being investigated over claims he raped two of his colleagues.

      Recommended Stories

      Prince Charles news: Royal warning over coronavirus created youth unemployment | Royal | News

      Northern Ireland Open snooker 2020 LIVE – Carter v Milkins, as Judd Trump reaches semi-finals

      Northern Ireland Open snooker 2020 LIVE – Carter v Milkins, as Judd Trump reaches semi-finals

      Covid news live: Lockdown review begins for England

      Covid news live: Lockdown review begins for England

      Popular Stories

      • Joe Biden opposes guarded border between Ireland and Northern Ireland | US News

        President Biden Promises to Slash Greenhouse Gas Emissions by 50 Percent by 2030

        2636 shares
        Share 1054 Tweet 659
      • Prince Philip is dead

        2632 shares
        Share 1053 Tweet 658
      • Two US Capitol police officers injured after suspect rams car into barrier and stabbed. Suspect dead

        2372 shares
        Share 949 Tweet 593
      • Prince Harry ‘back in the UK’ ahead of Duke of Edinburgh’s funeral on Saturday

        2143 shares
        Share 857 Tweet 536
      • Juventus chairman Andrea Agnelli says European Super League can no longer go ahead

        2115 shares
        Share 846 Tweet 529
      News Press Live

      © 2021 Copyright - All rights reserved.

      Navigate Site

      • About Us
      • Terms & Conditions
      • Private Policy
      • Advertise With Us
      • Contact Us

      Follow Us

      No Result
      View All Result
      • Home
      • News
        • Crime
        • Economy
        • News of England
        • News of Northern Ireland
        • News of Scotland
      • Royal Family
      • Tv & Showbiz
      • World News
      • JOBS
      • Sport
        • Football
        • Watch Live Score Football (Soccer) Videos

      © 2021 Copyright - All rights reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?