Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

UK spent over £46m on Australia and New Zealand trade deals

by August 22, 2023
August 22, 2023
UK spent over £46m on Australia and New Zealand trade deals

The UK government spent more than £46m on negotiating just two trade deals last year, it has been revealed.

Ministers shelled out £46.2m during 2022-23 securing and implementing new trade deals with Australia and New Zealand, according to a recent parliamentary written question.

Concerns have been raised over the expected benefit from the Australian and New Zealand deals, with some Brexit critics contrasting the expected values of the deals to that which would be achieved by full access to the EU single market.

The government itself admitted the Australia deal was only expected to add just 0.02 per cent – now uprated to 0.08 per cent – to the size of the UK economy over 15 years.

One manufacturing executive said that the deals represented “minimal benefit at best” and urged ministers to focus on offering tangible support to expand to new markets.

A spokesperson for The Department of Business and Trade said: “In 2022 we signed trade deals worth £1.1 trillion with some of the world’s biggest and fastest growing economies, which will boost our exports and cut costs for consumers.

“In the past year we have ratified our new trade deals with Australia and New Zealand, agreed membership of the hugely exciting CPTPP trade bloc in the Indo-Pacific, and progressed negotiations with India, the Gulf, Canada, Mexico, Israel and Switzerland,” they added.

Read more:
UK spent over £46m on Australia and New Zealand trade deals

0
FacebookTwitterGoogle +Pinterest
previous post
UK firms asked to disclose China investments as Sunak mulls joining US in trade bans
next post
New report finds 39% of the UK’s fastest growing businesses have a foreign-born founder

You may also like

Google’s Bard AI bot mistake wipes $100bn off...

February 9, 2023

HS2 Phase Two: Birmingham to Manchester expected to...

September 21, 2023

Hair transplant popularity

March 22, 2023

Parts of HS2 to be delayed or cut...

March 9, 2023

Professional Gamification: Why and How Can It Benefit...

May 16, 2024

The Sociology of Online Gambling: Who Plays at...

March 3, 2025

UK borrowing falls in May after higher tax...

June 20, 2025

Deliveroo raises profit guidance on back of surging...

January 17, 2025

New CBI boss to face questions from MP’s...

June 13, 2023

Australian giant launches EnviroTech innovation centre in Oxfordshire

October 13, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • EPA urged by state AGs to axe funds for ‘radical’ climate project accused of training judges

      August 26, 2025
    • ‘Doctor Strangelove with a mustache’: Bolton blasted for ‘profiteering’ off US secrets by White House advisor

      August 26, 2025
    • Bolton may be in hot water as FBI investigation expands beyond controversial book

      August 26, 2025
    • New Cato Paper: Immigrants Cut Victimization Rates, Boost Crime Reporting

      August 26, 2025
    • ‘Dr. Strangelove with a mustache’: Bolton blasted for ‘profiteering’ off US secrets by White House advisor

      August 26, 2025
    • Fighter pilots take directions from AI in Pentagon’s groundbreaking test

      August 26, 2025

    Categories

    • Business (8,886)
    • Investing (2,241)
    • Politics (16,493)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved