North-east, Cromarty Firth and Orkney could all host new ‘investment zones’

The Scottish Government has refused to be drawn on claims the five areas bidding to host new freeports could all become beefed-up “investment zones”.

Such a move could mean the north-east, Cromarty Firth, Orkney, Rosyth and Clyde areas would all win special low-tax status – regardless of whether they become green freeports.

Chancellor Kwasi Kwarteng announced as part of his Budget on Friday that talks would be held on creating a new network of job-creating growth hubs across the UK.

Each of the investment zones would offer “generous, targeted and time limited tax cuts” for businesses and “liberalised planning rules” to release more land for housing and commercial schemes.

Deputy First Minister John Swinney said the SNP-Green government would have a “close look” at the details.

It has now been reported in The Sunday Times that the five areas hoping to host “green freeports” could become the locations of Scotland’s investment zones.

The five areas battling to secure the freeport status are the north-east, the Cromarty Firth, Orkney, the Forth and the Clyde.

Only two of the five bids were expected to be successful.

However, the The Sunday Times said the two winning areas could be rebadged and beefed up as the first of the new investment zones planned by Prime Minister Liz Truss.

It reported that the other bidders could follow soon after.

The Westminster government said it was in discussions with 38 local authorities to establish investment zones in England.

These would be hubs for growth, encouraging investment in new shopping centres, restaurants, apartments and offices, and creating thriving new communities.

However, a spokeswoman for the SNP-Green government at Holyrood said on Sunday that it was focussed on the current freeport process.

‘Rigorous procedures’

“The Scottish Government’s priority remains the rapid conclusion of the green ports competitive process, following the rigorous procedures set out in the joint prospectus published in March,” she said.

“We hope to announce the winning bids jointly with the UK Government soon.”

Green freeport status for the north-east – Aberdeen and Peterhead – would be expected to create 32,000 jobs and provide an economic boost worth £8.5 billion over the next decade.

Opportunity Cromarty Firth, which is being led by Port of Cromarty Firth and Global Energy Group alongside Port of Inverness and Inverness Airport, has estimated a successful bid will create 20,000 jobs across the Highlands.

Orkney Council has also thrown its hat into the ring for an Orkney Green Freeport.

It said their freeport would focus on innovation and research and development opportunities.

Another favourite is the Forth Green Freeport bid which takes in the ports of Grangemouth, Leith and Rosyth.

These partners, led by Forth Ports, have predicted their joint bid for a green freeport would create 50,000 jobs.

Clyde Green Freeport is a partnership between Glasgow Airport, Mossend International Railfreight Park, Peel Ports’ Clydeport and the Glasgow City Region councils.