皇冠体育app

Administrative timetable

Date	Action
1 November 2024	SAU鈥檚 report published
8 October 2024	Deadline for receipt of any third-party submissions (submissions after 5pm on this date cannot be taken into account)
23 September 2024	Beginning of reporting period

Final report

1 November 2024: 皇冠体育app SAU has published a report providing advice to the WG and MHCLG concerning their proposed Welsh Freeports Subsidy Scheme. 皇冠体育app report includes the SAU鈥檚 evaluation of the WG鈥檚 and MHCLG鈥檚 Assessment of Compliance of the proposed Scheme with the requirements set out in the Subsidy Control Act 2022.

• Final report (1.11.24)

Request from the WG and MHCLG

23 September 2024: 皇冠体育app SAU has accepted a request for a report from the WG and MHCLG on the proposed Welsh Freeports Subsidy Scheme. This request relates to a Subsidy Scheme of Particular Interest.

皇冠体育app SAU will prepare a report, which will provide an evaluation of the WG鈥檚 and MHCLG鈥檚 assessment of whether the scheme complies with the subsidy control requirements (Assessment of Compliance). 皇冠体育app SAU will complete its report within 30 working days.

Information about the scheme provided by the WG and MHCLG

A Welsh Freeport is a large, zoned area within a defined boundary which includes a rail-, sea-, or air-port. Operators and businesses locating on specific sites within the zone can benefit from a package of tax and other incentives through a combination of devolved and reserved levers.

皇冠体育app WG and MHCLG are proposing to create a Subsidy Scheme to establish Freeports in places that are experiencing economic disadvantage but have significant unmet potential in Wales. 皇冠体育appy aim to harness local strengths and assets (including port infrastructure) to boost opportunity for local communities and drive national productivity growth.

皇冠体育app main objectives of the Freeports Programme for Wales are to: promote regeneration and high quality job creation, create hubs for global trade and investment, and foster an innovative environment.

Places were selected according to the detailed criteria set out in the Welsh Freeports Bidding Prospectus. 皇冠体育app criteria areas were:

• ability to deliver the objective 鈥減romote regeneration and high-quality job creation鈥�
• ability to deliver the objective 鈥渆stablishing hubs for global trade and investment鈥�
• ability to deliver the objective 鈥渇ostering an innovative environment鈥�
• deliverability of proposal effectively at pace
• level of private sector involvement in the proposal

Following a competitive bidding exercise completed in 2023, two Welsh Freeports were selected; Anglesey Freeport (Anglesey) and Celtic Freeport (Pembrokeshire and Neath Port Talbot).

Under the Welsh Freeport Scheme qualifying enterprises will be able to receive support through the following measures:

• five tax reliefs (National Insurance Contributions, Enhanced Buildings Allowance, Non-Domestic Rates and Land Transaction Tax) available on new investment on specific, underdeveloped sites - these are expected to be available from 2024 to 2034

• up to 拢25 million seed capital funding per Freeport, administered by Local Authorities and used for supporting projects which address local market failures and unlock sites for development, for example through transport infrastructure or site remediation works - seed capital may or may not constitute a subsidy depending on how it is used by the Local Authority

WG and MHCLG have determined that the Welsh Freeports Subsidy Scheme is a Subsidy Scheme of Particular Interest as there is the potential for the Scheme to provide subsidies of greater than 拢10m to qualifying enterprises.

WG and MHCLG have stated that whilst it is not possible to establish a definitive 鈥榖udget鈥� for the Welsh Freeports Scheme ahead of time, they estimate that it will be approximated as 拢185 million (拢50 million in seed capital, 拢135 million in tax reliefs).

Information for third parties

If you wish to comment on matters relevant to the SAU鈥檚 evaluation of the Assessment of Compliance concerning the WG鈥檚 proposed Welsh Freeports Subsidy Scheme, please send your comments before 5pm on the date stipulated in the timetable above. For guidance on representations relevant to the Assessment of Compliance, see the section on reporting period and transparency in the Operation of the subsidy control functions of the Subsidy Advice Unit.

Please send your submissions to the public authority: [email protected]

Please also provide a contact address and explain in what capacity you are making the submission (for example, as an individual or a representative of a business or organisation).

Notes to third parties wishing to make a submission

皇冠体育app SAU will only take your submission into account if it can be shared with the WG and MHCLG. 皇冠体育app SAU will send a copy of your submission to the WG and MHCLG together with its report. This is to allow the public authority to take account of the submission in its decision as to whether to make or modify the scheme or its assessment. We therefore ask that you provide express consent for your full and unredacted submission to be shared. We also encourage you to share your submission directly with the WG using the email address provided above.

皇冠体育app SAU may use the information you provide in its published report. 皇冠体育apprefore, you should indicate in your submission whether any specified parts of it are commercially confidential. If the SAU wishes to refer in its published report to material identified as confidential, it will contact you in advance.

For further details on confidentiality of third party submissions, see identifying confidential information in the Operation of the subsidy control functions of the Subsidy Advice Unit.

Contacts

• CMA press team: 020 3738 6460 or [email protected]