Rosyth’s MP Douglas Chapman has hailed plans to award the area green freeport status and said it will give Fife’s economy a massive boost.
The UK and Scottish governments are understood to have accepted a bid from Forth Ports which will allow businesses in the area to claim special tax breaks.
An announcement is expected imminently as Rishi Sunak travels to Scotland for his first meeting with Nicola Sturgeon north of the border since he became prime minister.
Mr Chapman said the successful Forth Ports application – which could create up to 7,000 new jobs – should bring “significant investment” to Fife.
‘Major driver’
The Dunfermline and West Fife MP told The Courier: “This long-awaited announcement is very welcome and could prove to be a major driver to our economy in West Fife with the likes of the Port of Rosyth benefiting from significant investment.
“We have all the ingredients to make Dunfermline and West Fife one of the most attractive places to start and grow a business, a family, and a successful, sustainable green economy.”
Rosyth was included in one of five separate bids fighting it out for two freeports slots in Scotland.
It’s understood an application by Cromarty Firth in the north of Scotland will be accepted as Aberdeen, Glasgow and Orkney all miss out.
Freeports are special economic zones where businesses receive tax breaks as an incentive for them to invest.
In Scotland, the new freeports will come with a “green” emphasis as firms are expected to ensure they remain environmentally friendly.
In Rosyth, it’s hoped the award will improve shipping logistics and help lead to the assembly of offshore wind and low carbon energy generation.
An extra 150 hectares of land are to be developed in Rosyth as part of the Forth Ports project.
‘Tax dodging schemes’
Green freeports have not been without their critics.
The Scottish Greens – who are in government with the SNP – have strongly opposed the agreement reached between Holyrood and Westminster.
Earlier this year, party MP Maggie Chapman branded them “tax dodging schemes” which could harm workers’ rights.
Fife Lib Dem MP Willie Rennie insisted firms operating within the freeport must still pay what they owe in taxes.
He said: “I hope that this deal can bring new jobs to Fife and help to invigorate our local economy.
“Both of Scotland’s governments must now deliver on their promises and make sure that this freeport is taxed fairly, delivers its green commitments and does not simply displace jobs from elsewhere.”