Thames Freeport - Britain's Trading Future

[ 107 ] cent) GDP per capita. Parts of Tilbury are in the top decile of deprivation, with significant levels of child poverty. Barking and Dagenham is the fifth most deprived local authority area in the country, having experienced significant industrial decline. Unemployment in 2020 was 76 per cent higher there than the national average and GDP per capita 39 per cent below national average. In Havering, 9 per cent of households experience fuel poverty with 16 per cent of children living in low-income homes. In 2020, unemployment in Havering was 9 per cent above, and GDP per capita 18 per cent below the national average. (IMD, 2019). One of the aims of Thames Freeport is targeting opportunities and benefits to local residents, maximising the economic impacts locally, regionally and positively contributing to national economic growth ambitions. The anticipated benefits from the Freeport are significant, including over 21,000 new and sustainable jobs, major investment in training and skills, targeted interventions to tackle deprivation and disadvantage in communities funded, over £4 billion in new private investment, improved trade and productivity for existing local businesses — particularly welcome after the disruption caused by Covid. The development of a freeport enables access to additional funding sources for local authorities including grants and the retention of business rates relating to new businesses that locate within the Freeport Tax Sites. One of the headlines of freeports is the ability to retain more business rates income within the designated areas, therefore this funding can be used for additional activity which links to the objectives of the freeport, such as infrastructure and environmental enhancements and other levelling-up activity including investment in skills. It is anticipated that retained business rates will give the opportunity to invest £300 million in projects to accelerate levelling-up outcomes in the area. This will be used for active travel initiatives between existing and new communities, investment for the community in health, wellbeing, culture, education and skills, new roads and upgrades to the existing network, expansion of high speed internet and improvements to rail and river infrastructure and other programmes supporting net zero. But the benefits are not all one way. Another key benefit of freeport status is access to a simpler planning process through expected reforms to permitted development rights and area-based planning mechanisms such as Local Development Orders (LDOs). For instance, an LDO is already in place at London Gateway Distribution Park, with local authority approval for almost 10 million ft 2 of land already with planning consent. LDOs have enabled delivery of planning permission for investment in a much quicker timeframe than would otherwise be possible. Thurrock has consistently been the joint best performing planning authority in the country for many years, not least due to its collaborative approach with applicants. And local authorities have a different sphere of influence with a wide range of stakeholder groups including business groups and regional bodies such as local enterprise partnerships, government departments and various growth related boards. Local authorities have a major role to provide leadership within the public sector, bringing people together and ensuring strategic alignment across other local, regional and national initiatives and projects. Retained business rates will be used for active travel initiatives and investment for the community in health and wellbeing It is anticipated that retained business rates will give the opportunity to invest £300 million in projects to accelerate levelling-up outcomes in the area