We won’t wait, Britain tells EU over trade deal
BRUSSELS has been warned that significant progress towards a major trade deal with Australia is a sign that Britain can “thrive outside the EU”.
The European Parliament votes on Tuesday to ratify the Brexit trade deal, and sources close to Boris Johnson have said the UK will not wait any longer if the vote fails to pass.
The warning was issued as it was announced the UK and Australia have agreed most of the terms of a deal, with ministers openly stating our future prosperity now lies outside Europe. The EU vote on the trade deal comes almost three months after the transition period ended.
Britain allowed an extension to the end of April but with Brussels being accused of trying to operate a minitrade war over shellfish, agricultural goods and Northern Ireland, patience has run out.
Privately, Downing Street has told the EU that if it fails to agree the deal properly, they will revert to World Trade Organisation rules and the agreement will collapse.
A senior government source said: “We’ve always been clear there could be no more delay and we would not countenance another extension.we owe it to people and businesses in the UK and EU to provide certainty.
“When the EU finally ratifies, it means we can all move on and make a success of the brilliant and unprecedented trade deal we agreed before Christmas.”
A Government spokeswoman said: “Ratification will provide certainty to businesses and individuals in the UK and across Europe.”
The agreement with Australia is also another step to the UK joining the Comprehensive and Progressive Agreement for Trans-pacific Partnership, the world’s fastest growing trade bloc, which in itself is expected to pave the way for free trade with the US.
The deal struck by International Trade Secretary Liz Truss and her Australian counterpart Dan Tehan over a fish-and-chip supper, will build on the £18.8billion trade between the two allies.
In a joint statement both countries said they are confident the remaining issues will be resolved to reach an agreement by June.
Ms Truss said: “We have made major breakthroughs over the past few days and an agreement is now in sight.
“This is a deal that will deliver for Britain and all parts of our economy. It is a win-win for both nations.
“It is a fundamentally liberalising agreement that will support jobs and help us emerge stronger from the pandemic, strengthening ties between two democracies who share a fierce belief in freedom, enterprise and fair play.
“We will spend the next few weeks ironing out details and resolving outstanding issues.”
The deal could allow easier
‘It means we can move on’ ‘This is great
win for Liz’
freedom of movement for British and Australian citizens in the two countries.
The free trade agreement is estimated to increase exports to Australia by up to £900million in the short term and could increase GDP by £500million.
A senior government source said: “This is a great win for Liz. She has fought hard, but fair, for Britain’s interests. A deal is now in touching distance.
“This is yet more evidence that we’re capable of thriving outside the EU.”