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Hopes continue after Cumbria s bid for Freeport status fails

OPTIMISTIC: Jo Lappin A SENIOR figure in Cumbria s business world has said there is still hope for a positive outcome, after confirmation last week the county had been unsuccessful in its bid for a Freeport. Jo Lappin, chief executive of the Cumbria Local Enterprise Partnership (LEP) said there was a possibility a number of Cumbria s proposals made as part of its recent Freeport bid could still be taken forward, in spite of confirmation last Wednesday that the county had not been selected to host a Freeport. Freeports are areas such as airports or maritime ports designated by the Government to exist under special tax and customs rules.

Still hope for positive outcome despite Freeport bid failing

Jo Lappin A Cumbrian business leader said despite the county’s Freeport bid failing, there was still hope for a positive outcome. Jo Lappin, chief executive of the Cumbria Local Enterprise Partnership, said there was a possibility a number of Cumbria’s proposals made as part of the bid could still be taken forward. Freeports are areas such as airports or maritime ports designated by the Government to exist under special tax and customs rules. Companies operating in these areas can defer paying tax until their products are moved elsewhere, or can avoid paying tax entirely if their goods are stored or manufactured on site then exported again.

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