Originally written by Anna Jordan on Small Business
The Prime Minister recently announced a provisional trade deal (agreement in principle) between the UK and Australia.
It’s significant because it’s the first deal negotiated from scratch since leaving the EU.
There’s been a mixed reception to the news, with some excited about cheaper imports. However, others are questioning how effective it’ll be for the economy and what the damage will be for businesses in the agricultural sector.
We’ve outlined what the government have said about the agreement so far and how industry experts have responded.
Less red tape for SMEs
Under the plan, red tape and bureaucracy will be scrapped for more than 13,000 small businesses across the UK who already export goods to Australia. The agreement will deliver quicker export times and ensure small business have access to new intelligence that will better allow them to take on opportunities created by the deal.
National chair of the Federation of Small Businesses, Mike Cherry, said:
“A trade deal with Australia will come as great news for many of our members who have long been exporting there as well as those who are hoping to expand their trade ambitions.
“As we look beyond the pandemic and enjoy the benefits of post-Brexit