Humber freeport looks to anchor investment zone status across all sites

The Humber Freeport could be supercharged with investment zone status tethered to it.

Approval of the final business case to roll-out the huge benefits offered by the post-Brexit opportunity designated by a Chancellor now succeeded three times is still awaited.

Latest government initiatives have led to the most recent pause, and now it is hoped the momentum can build having lost out on one key South Bank investment, while the £15 billion Net Zero opportunity is at the fore.

Read more: Humber vision 'has the world's attention' as investors and government pour over £15b pipeline

Dafydd Williams, ABP’s head of policy, communications and economic development in the Humber, updated as he hosted a debate on the key fiscal tools to drive the estuary forward.

He told The Waterline audience: “We have applied to upgrade all of the sites to investment zones. It doesn’t change what we have, and it adds to it.

“It is subject to the final business case being approved, as there was a delay in the process for approval because we have had to pause to work out what the impact of investment zones would be.

“We do see this as an opportunity to supercharge it and get the ‘full fat version’ Liz Truss was talking about in her leadership campaign.”

Mr Williams said there had been fears the new policy announced by then new Chancellor Kwasi Kwarteng - with Hull highlighted ahead of the mini-budget he delivered - had potential to rock the boat. He has subsequently been reassured in the latest Treasury make-up.

Joined by Henri Murison, chief executive of the Northern Powerhouse Partnership, he said investment zones “was not as dynamic a policy as freeports” as they are limited to tax incentives. “Uncertainty around the policy is a risk, while the good things about freeports are the fixed number, they have clear incentives that are not going to be cancelled and come with other status which will be particularly beneficial to particula