Boris Johnson has made ambitious plans to turn London into a shipping hub to rival Singapore after Brexit.
Proposals have been drawn up to revamp UK shipping tax laws to allow more vessels – including oil rigs – to be classified as ships in a move ministers believe will raise up to £3.75billion over three years.
They also suggest the change to the way ‘tonnage tax’ is calculated could create 2,500 jobs directly and 25,000 in related sectors.
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