chancellor reeves to focus on existing freeports in upcoming budget

Chancellor Rachel Reeves is not expected to announce any new freeports in the upcoming budget, as per a report from the Financial Times.

Instead, the focus will be on existing freeports, with further details on the progress of five locations that are set to become customs sites. Funding for the existing freeports scheme will also be confirmed. This indicates a strategic approach of enhancing the operational capabilities of current freeports rather than expanding with new sites.

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