Despite the ten-mile lorry queues causing chaos at several of Kent’s ports even before Brexit kicks into action, the UK port authorities are said to be drawing up plans designed to persuade shipping companies to register their vessels under the UK flag a London looks to rival Singapore as an administrative (and tax) hub for global shipping.
The plans being submitted to ministers include expanding the scope of the UK’s shipping tax and regulatory regime by counting storage vessels and oil rigs as “ships” for tax purposes to attract more business. This was not permitted under EU rules and could result in more shipping companies registering their vessels under the UK flag.
The plan could create 2,500 high-quality jobs directly, on top of another 25,000 new roles in related companies, according to calculations provided to the Government.