March 24, 2023
Stena Line and Isle of Anglesey County Council joint bid to establish a Freeport in Holyhead has been successful. The Freeport status was granted by the UK and Welsh Governments, marking a significant economic boost to North Wales.
- Simplified customs and trade rules will apply. In future, goods entering Anglesey Freeport will not be subject to the UK’s usual tax and customs regime.
- In a press release, Stena says the announcement signals the beginning of the process to revitalise the GB land bridge, which has suffered a 20% reduction in trade since Brexit.
- The Freeport will reduce the need for hauliers to transit goods around the southern tip of the UK, “a process which is both environmentally damaging and economically inefficient.”