Montrose steers clear of bid to be freeport

MONTROSE Port will not make a bid to become a Scottish freeport despite enormous economic benefits highlighted in yesterday’s Budget.

Freeports are special economic zones with favourable tariffs, customs and VAT arrangements that make it easier for international trade.

Chancellor Rishi Sunak said freeports would bring “investment, trade and most importantly jobs right across the country”.

He announced eight English freeports as he delivered his Budget.

The Scottish Government is yet to start a bidding process north of the border.

Montrose has been mulling a bid for several months and a motion of support was passed by Angus Council last summer.

The motion, brought by the council’s economic development spokesman Braden Davy, said a freeport at Montrose Port would create “huge opportunities for Angus and the wider area in delivering growth and providing investment and new jobs”.

Captain Tom Hutchison, chief executive of Montrose Port Authority, said making a bid would have required a “substantial investment”.

He said: “We spent a great deal of time exploring the freeport proposal, including consulting with various stakeholders.

“However, with a substantial investment required to submit a bid, and with no concrete plans from the government on how many ports would be granted freeport status, it was decided that it would not be financially viable to submit a bid at this time.”

Scotland has been guaranteed at least one freeport, but Trade Minister Ivan McKee this week wrote to Chief Secretary to the Treasury Steve Barclay to state the country should have two.

The Scottish Government has previously said it will adapt the criteria for freeports, which it is calling green ports.