Given the nonsense spouted about Free Ports by the Govt it's a real shame this video has not gained more traction. The money laundering opportunities and the storing of stolen goods outside of any regulator's jurisdiction is a massive issue. But then London is known around the world to be a massive money-laundering centre and the UK Govt turns a blind eye to it... so I guess this initiative fits into their mindset.
Yeah. Let's all thank the anti brexit people for enlightening us all. Except, they do not offer any counter argument. Do they? It's almost as though, they don't want to.
How does employment work in freeports and where are taxes paid? It seems to me that the point of freeports is just a VAT like system for products and that with decent paperwork and deferred payment they are [almost] pointless.
I love the fact that Brexit introduced the red tape, so the Brexit Loons have to come up with the idea of free ports to reduce it again with no perceivable benefits. If manufacturing simply relocate from one part of the UK into a Freeport, there is no benefit. Jobs are lost in the original location, and the government doesn’t get its tariffs so less income for the UK exchequer in the short term for political ideology. Maybe it’s part of the levelling up plan (does anyone remember that ?) hence spreading out the Russian money laundering to the north from London?
Yeah because this entire presentation is totally driven by anti brexit sentiment. I saw that and you clearly have. That's why this biased, "university" leftwaffe anti "tory" an pro labour crap appeals to silly anti brexiters.
I had to read up on this, because I wasn't sure of the exact definition. But it would appear that we're 7th of least regulated economies in the world. So, there you go. en.m.wikipedia.org/wiki/List_of_countries_by_economic_freedom
@@tomboyle4312 economic freedom does not equate to no regulation, that is more to do with buraucratic red tape and ease of doing business, it doesn't mean you can dump poison in the rivers. We're actually very protective of the countryside, that's why hs2 is so expensive. If they just force purchased all the land and rammed it through the landscape it would cost less than half what it does. You can like or loath that but the point is that regulations are actually quite onerous in the UK
Rishi Sunak wrote a report arguing that around 86,000 jobs would be created by free ports. His argument is simple, just look at the US model and adjust it to the size of the UK labour force. The consulting firm Mace argued that the number of jobs could be double, at 150,000. The infrastructure for these ports already exists but also the kinds of jobs it creates are manufacturing jobs outside of London. In fact Chris Walker estimates that around 26,000 will be high value jobs in the North.
@@tomboyle4312 the infrastructure already exists and does regulations have to do with it? If there were regulations harming economics growth, we'd obviously get rid of them.
@@andrewwells6323 I don't know, I'm not pretending to be an expert. But in my experience, things tend to be harder than, we'll just not do that thing that's making our lives difficult. Whatever, my point is, these two things work differently. You shouldn't expect them to have the same outcome.
Given the nonsense spouted about Free Ports by the Govt it's a real shame this video has not gained more traction. The money laundering opportunities and the storing of stolen goods outside of any regulator's jurisdiction is a massive issue.
But then London is known around the world to be a massive money-laundering centre and the UK Govt turns a blind eye to it... so I guess this initiative fits into their mindset.
yeah i'm from tenet
Thank you for explaining this in plain English
Yeah. Let's all thank the anti brexit people for enlightening us all.
Except, they do not offer any counter argument. Do they? It's almost as though, they don't want to.
How does employment work in freeports and where are taxes paid?
It seems to me that the point of freeports is just a VAT like system for products and that with decent paperwork and deferred payment they are [almost] pointless.
I love the fact that Brexit introduced the red tape, so the Brexit Loons have to come up with the idea of free ports to reduce it again with no perceivable benefits. If manufacturing simply relocate from one part of the UK into a Freeport, there is no benefit. Jobs are lost in the original location, and the government doesn’t get its tariffs so less income for the UK exchequer in the short term for political ideology. Maybe it’s part of the levelling up plan (does anyone remember that ?) hence spreading out the Russian money laundering to the north from London?
Yeah because this entire presentation is totally driven by anti brexit sentiment. I saw that and you clearly have. That's why this biased, "university" leftwaffe anti "tory" an pro labour crap appeals to silly anti brexiters.
I'm not sure how you could consider the UK one of the least regulated economies in the world? In europe maybe, but the word is bigger than europe.
I had to read up on this, because I wasn't sure of the exact definition. But it would appear that we're 7th of least regulated economies in the world. So, there you go.
en.m.wikipedia.org/wiki/List_of_countries_by_economic_freedom
@@tomboyle4312 economic freedom does not equate to no regulation, that is more to do with buraucratic red tape and ease of doing business, it doesn't mean you can dump poison in the rivers. We're actually very protective of the countryside, that's why hs2 is so expensive. If they just force purchased all the land and rammed it through the landscape it would cost less than half what it does. You can like or loath that but the point is that regulations are actually quite onerous in the UK
@@alex29443 These two things are not the same nor related to each other. All kinds of things can be regulated in all kinds of ways and not be related.
Rishi Sunak wrote a report arguing that around 86,000 jobs would be created by free ports. His argument is simple, just look at the US model and adjust it to the size of the UK labour force. The consulting firm Mace argued that the number of jobs could be double, at 150,000. The infrastructure for these ports already exists but also the kinds of jobs it creates are manufacturing jobs outside of London. In fact Chris Walker estimates that around 26,000 will be high value jobs in the North.
But, the UK and US work differently and have different rules and laws. How could you apply the same model accurately?
@@tomboyle4312 a free port in the US is exactly the same as in in the UK. It's a port where normal customs duties don't apply.
@@andrewwells6323 Sure, but things like construction and all the regulations that go along side it still applies to these places right?
@@tomboyle4312 the infrastructure already exists and does regulations have to do with it? If there were regulations harming economics growth, we'd obviously get rid of them.
@@andrewwells6323 I don't know, I'm not pretending to be an expert. But in my experience, things tend to be harder than, we'll just not do that thing that's making our lives difficult. Whatever, my point is, these two things work differently. You shouldn't expect them to have the same outcome.
Here's a more positive outlook: th-cam.com/video/B6fne0PXIZM/w-d-xo.html
"The UK is one of the least regulated countries in the world"
You're making me proud to be British.