10 key benefits coming our way
MINISTERS say the deal will increase trade with Australia by 53 per cent, boost the economy by £2.3billion and add £900million to household wages.
Here are ten key benefits, from the Department for International Trade:
SERVICE SECTOR BOOST:
Unprecedented access for British services and investors. It’s the first time Australia has given service firms, including researchers, accountants and lawyers, such access to their market
BUSINESS TRIPS MADE SIMPLE: Better business travel for British professionals. Architects, scientists, accountants and lawyers will have easier access to visas
TARIFF-FREE TRADE: Removes tariffs on all UK exports to Australia, supporting industries that employ 1.4million in Britain
EASY VISAS FOR UNDER-35S: Britons aged between 18 to 35 will be able to travel and work on a special visa for up to three years
DIGITAL TRADE BONANZA: More opportunities for UK firms to trade digitally with Australia
CHEERS! Lower prices for British manufacturers and shoppers. Removal of tariffs on Australian favourites such as Jacob’s Creek will bring down prices
BONFIRE OF RED TAPE: Customs authorities will release all goods within 48 hours, and food dealt with in six, in a boost for entrepreneurs and small businesses
MAKE A DEAL: Access to billions of pounds worth of Government contracts. British firms will be able to bid for £10billion a year on equal footing with Australian companies
WORKING TOGETHER: Stronger co-operation on shared challenges. The deal will foster collaboration on tackling climate change and unfair trading practices
NEW TRADING FRIENDS: Australia supports UK membership of the Trans-Pacific CPTPP trade agreement, opening up 11 markets worth £8.4trillion, in a major step for trade in the Indo-Pacific region