The Australia deal is purely about sovereignty and nothing to do with economics. It's about justifying that "taking back control" was actually worthwhile.
Over 15 years it will be worth just 0.02% of GDP, around £500 million pounds. In exchange for this our farmers will get sold down the Swanee.
Beef, for example, currently has a quota of 3,761 tonnes. This will be increased to a tariff-free quota of 35,000 tonnes immediately after the deal is in force, 110,000 tonnes after ten years and 170,000 after 15 years.
A similar plan applies to lamb, where imports are currently limited to 13,335 tonnes under the quota. This will go up to a tariff-free quota of 25,000 tonnes when the deal is enacted, 75,000 tonnes after 10 years and 125,000 tonnes after 15 years.
As for our negotiators giving away as little as possible... they seem to capitulate at the first hurdle. They
dropped a commitment to a 1.5°c climate temperature limit, for instance.
One might also question the quality of the meat if it can be shipped from the opposite side of the world and still undercut anything produced in this country.
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