I like the infrastructure bank idea, based in Leeds.

I really like the new investment tax break. When I ran my company (now retired) I used to take full advantage of the many investment schemes, mainly EU generated, being offered. However none were as generous as the scheme proposed whereby if I invest £100k on new machinery, I can offset £130k against corporation tax.

I like the government under-written scheme to reduce new house buyer deposits to 5%.

Still listening, but sounds good so far.

Plymouth getting Freeport status

Plymouth getting Freeport status

Does this mean I don't have to pay mooring fees for my boat?

err no. Freeports are areas in which unfinished goods entering the UK are stored and sent on to other countries and not subject to tariffs and customs procedures, the idea being they reduce costs in the production chain. Think of a massive warehouse.

We could have had them while being in the EU, there are 80 EU freeports and there were 5 in the UK until 2012. They were seen to encourage smuggling and tax evasion particularly amongst the super rich.

Plymouth getting Freeport status

Does this mean I don't have to pay mooring fees for my boat?

From memory, mooring fees in Plymouth are some of the cheapest to be found anywhere in the Country yet you still want to pay even less . I think Tudor should look to increase mooring fees down here as it would be a lovely income stream (pardon the pun). Then again, he probably has a boat moored somewhere so I cant see any chance of that happening.

[quote="themightykeithfear"]err no. Freeports are areas in which unfinished goods entering the UK are stored and sent on to other countries and not subject to tariffs and customs procedures, the idea being they reduce costs in the production chain. Think of a massive warehouse.

We could have had them while being in the EU, there are 80 EU freeports and there were 5 in the UK until 2012. They were seen to encourage smuggling and tax evasion particularly amongst the super rich.[/quote

You are correct partially. Under eu regulations we could only have them as giant warehouses but now we are out we are able to use the parts and manufacture them into finished goods. Tax would then only be applicable on parts or finished goods entering the uk As you can see it will benefit plymouth with manufacturers having an incentive to set up in plymouth whereas prior brexit freeport could not be set up in this fashion]

And there lies the crux of the problem with free ports. They make absolute sense where they are founded in locations where you have an existing trade footprint, but using them as a carrot to entice industry in is an economic gamble. That the locations of the freeports are in run down and deprived areas of the UK means that the driving factor for them is political. Pork barrel politics.

I like the infrastructure bank idea, based in Leeds.

I really like the new investment tax break. When I ran my company (now retired) I used to take full advantage of the many investment schemes, mainly EU generated, being offered. However none were as generous as the scheme proposed whereby if I invest £100k on new machinery, I can offset £130k against corporation tax.

I like the government under-written scheme to reduce new house buyer deposits to 5%.

Still listening, but sounds good so far.

Thought the budget was a bit of a mixed bag, but - and it's all about opinions - you seem to have picked two of the absolute worst policies

I can see why allowing a 100% tax write off makes sense, but 130% means that uneconomic, inefficient investments that wouldn't ordinarily generate a return for the business might do so because of the tax benefits. Could encourage businesses to undertake wasteful projects rather than spending the money more effectively. Exactly the wrong way to improve the UK's lamentable productivity record.

The house price subsidy will jack house prices up, benefiting homeowners but particularly the big housing firms and speculators who own multiple properties, while the vast majority of young people remain priced out of the market. It won't do anything to address the critical issues with the UK housing market, which are insufficient supply, insufficient provision of social housing, and an insufficient number of well-paying jobs with decent career prospects for young people who would like to own their own home. The only consistent economic policy in this country is juicing up the property market in pursuit of the votes of homeowners, and it has been absolutely disastrous.

an interesting characteristic of both policies is that they are distortive interventions that are completely at odds with the principles of free market Conservatives (I am not myself a free market Conservative)

We were in one giant Freeport with no customs or tariffs, it was called the EU.

Plymouth getting Freeport status

Does this mean I don't have to pay mooring fees for my boat?

From memory, mooring fees in Plymouth are some of the cheapest to be found anywhere in the Country yet you still want to pay even less . I think Tudor should look to increase mooring fees down here as it would be a lovely income stream (pardon the pun). Then again, he probably has a boat moored somewhere so I cant see any chance of that happening.

Apologies, it was my poor attempt at humour, a bit like not getting your beer for nothing in a free house!

[Alan Turing]

We were in one giant Freeport with no customs or tariffs, it was called the EU.

Let’s hope this one will be less corrupt.

From memory, mooring fees in Plymouth are some of the cheapest to be found anywhere in the Country yet you still want to pay even less . I think Tudor should look to increase mooring fees down here as it would be a lovely income stream (pardon the pun). Then again, he probably has a boat moored somewhere so I cant see any chance of that happening.

Apologies, it was my poor attempt at humour, a bit like not getting your beer for nothing in a free house!

My apologies too. You rarely get any humour on this forum and thats probably why I missed it

Plymouth getting Freeport status

Only part of Plymouth

In the submission, our freezone would include sites at South Yard, Langage Energy Zone and Sherford Business Park.

The Sherford Business Park isn’t built yet.