UK’s post-Brexit trade deals with Australia and New Zealand kick in
The UK’s post-Brexit trade deals with Australia and New Zealand have come into force, a moment lauded by the government as “historic” despite critics arguing they give away “far too much for far too little”.
The trade agreements – the first of those negotiated after Britain’s EU exit to enter into force – come after George Eustice, who was the environment secretary when the UK-Australia trade pact was struck in December 2021, admitted it was “not actually a very good deal” for Britain.
The government’s own calculations estimate that the deal will have a negligible long-term contribution to the British economy, forecasting it will increase UK GDP by only 0.08%, or £2.3bn a year, by 2035.
This has prompted criticism in Britain that the deals were one-sided, and especially disadvantaged British farmers.
Eustice, an enthusiastic Brexiter, criticised the agreement last November for giving too many concessions to Australian and New Zealand farmers, telling the Commons: “Overall the truth of the matter is that the UK gave away far too much for far too little in return.”
The agreements – negotiated by Liz Truss during her time as trade secretary – are the first to take effect, after the UK, Australia and New Zealand completed their domestic ratification processes.
The move means that from Wednesday tariffs on all UK goods exports to Australia and New Zealand will be removed, access to these markets for services unlocked and red tape slashed for digital trade and work visas.
Special shipments of British goods such as signed Beano comics will be among the first to be sent under the new arrangements.
The business and trade secretary, Kemi Badenoch, called it a “historic moment”, adding: “Businesses up and down the country will now be able
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