UK Ports: Coronavirus Economic Recovery Plan
In May the British Ports Association (BPA) has published an economic recovery plan for government that highlights how investment in ports can play a part in the UK’s healing from the deepest economic shock in living memory. Included in the proposals are a Green Maritime Fund to drive sustainable development and help stimulate growth consistent with Net Zero aims. A key message is to energise our ports by igniting their potential to fire up the economy.
The document outlines a framework for recovery, providing government with ideas on how to unlock the untapped potential of UK ports to drive growth; supporting a recovery process that brings all of the regions of the UK along with it – to create a stronger Britain than ever before. It focuses on three key areas to kick start economic activity:
- Continued medium-term cash flow and business support
- A massive scaling up of the UK’s infrastructure ambitions including a Green Maritime Fund for sustainable development
- A bold and broad-based inclusive Freeports and fast track planning policy
Divided into short, medium and long-term initiatives, the plan outlines how government can utilise ports and the wider maritime industry, not only to administer first aid to the economy in its first steps towards recovery but to prevent economic aftershocks and stimulate growth for years to come. This plan is for 2020 and beyond.