International Finance

UK’s £200 mn financial package to support domestic ports

The package will allow ports to install new order processing facilities after exit from the European Union

The Cabinet Office told the media that the port infrastructure would “be targeted at those ports that have the space to build new border infrastructure on their current sites so they are ready to handle new customs requirements under the new Border Operating Model. The funding can be used for a range of vital port infrastructure, from warehouses and control posts to traffic management systems.”

In July, the funds were announced as part of a bigger £470 million investment package. The remainder £270 million will be allocated to  inland customs facilities in an effort to support ports that don’t have sufficient space within their facilities. 

Tim Morris, who is the chief executive of the UK Major Ports Group, told the media, “There is significant port capacity around the coast of the UK for handling freight flows to and from the EU. Today’s announcement is a welcome step in ensuring that this capacity can be maximised and UK supply chains can be more resilient. Time is short and it is vital that UK businesses prepare for new border arrangements. We will work urgently with the government on the all-important detail and related regulations.”

It is reported that the new border controls will be implemented in three phases from January. 

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