Chancellor explains Teesside freeport decisionpublished at 09:55 Greenwich Mean Time 4 March 2021
Chancellor Rishi Sunak has been on Teesside this morning and explained how the area was chosen for freeport status in Wednesday's Budget.
He told the BBC's Breakfast programme he had taken a "range of criteria" into account.
"We thought about an area's unemployment rate and we looked at the deliverability of the bid so you've seen eight regions benefit from freeports.
"We want to get money to as many places where we want to level-up opportunity."
Freeports are usually located around shipping ports, or airports and goods that arrive into from abroad aren't subject to the tax charges, called tariffs, that are normally paid to the government.
You can read more about them by clicking here.
![Rishi Sunak at a Teesside port](https://ichef.bbci.co.uk/ace/standard/640/cpsprodpb/vivo/live/images/2021/3/4/edd5287a-8b49-4414-8083-12c24de7336d.jpg.webp)