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What does an increase of 0.01% of GDP get us?

(33 Posts)
Whitewavemark2 Wed 16-Jun-21 07:41:45

Being hailed as a new dawn by Johnson, it seems from the little that has been put into the public forum, Australia has gained far more than the U.K. from this deal.

It is centred almost entirely on goods with the intention of eliminating tariffs over the next 15 years.

It will save each U.K. consumer 52p per year.

Under 35s can extend their holiday visa without having to work in Australia.

Farms will be protected by a cap on tariff free imports for 15 years.

Nothing has been said about the importation of hormone fed beef or animal welfare.
More than 30 active substances are allowed for example on sugar cane that are illegal in the U.K. e.g. paraquat
Antibiotics are used as growth promoter. Banned in U.K. 16 times more in use for poultry and triple in pogs.

Tariffs on wine will be eliminated saving 7-8p a bottle .

No vote on deal by parliament. But deal will be scrutinised once done.
Democracy seems to have a different meaning in the U.K. to how it is generally understood.

For Australian farmers it is a big win.
For U.K. farmers it is a big lose. It is expected that many farmers will go to the wall.

All for the sake of adulterated meat.

MaizieD Wed 16-Jun-21 07:56:05

All for the sake of adulterated meat.

Well, it isn't really, is it?

It's all for the sake of somehow proving that the UK can make trade deals independently of the EU.

It does 'prove' it but it also seems to prove, yet again, that the UK is really not much good at negotiating deals. Particularly when done in a hurry to score a political point.

Once again I'm astounded that Johnson's tame Noddies in parliament are happy with losing their powers of scrutiny. I really wonder what we are paying them to do...

silverlining48 Wed 16-Jun-21 07:57:20

It doesn’t seem great does it, but they have to try, to show us we were right to leave the EU. Our first deal! Hooray! 🤔 hmm.
It’s not convincing me and am still wondering where the millions ‘saved’ (as proclaimed on the side of the bus ) are. Not a 👀 peep.

Whitewavemark2 Wed 16-Jun-21 08:01:06

The issue is that the U.K. is in a much weakened position, and Johnson appears to be willing to throw anything to the wall in pursuit if his vanity project.

Fishermen and farmers, both big supporters of Brexit are the first thrown under the bus. They must be feeling so bitter.

Farmers in Kent are 90% short staffed of fruit pickers.

25Avalon Wed 16-Jun-21 08:01:25

You’ve been reading The Guardian again.The deal is not just about farmers which has already been discussed on another thread at great length. Interestingly enough Mary Quick of Quick’s cheese was on the radio and said Australia was her biggest customer although her cheese is much more expensive than theirs at the moment, but with the tariffs off she thinks it will be good for her company.

Financial, legal and professional services will probably benefit the most with the tariffs removed as that is something we do well. Cars, Scotch whiskey, biscuits, confectionary and ceramics will be cheaper to sell so increased trade prospects there.

Whitewavemark2 Wed 16-Jun-21 08:03:03

Oh yes sorry I meant to reference that!, apologise. But it is a safe assumption that it is the Guardian🙂

Casdon Wed 16-Jun-21 08:14:07

There’s quite a demand for British goods in Australia to be fair, not least from the 1million+ Brits who have emigrated there.

Lollin Wed 16-Jun-21 08:17:29

I do not understand it. All at a time when we keep being told we’re bad to expect to have foreign travel for the sake of the environment and even before that were told it’s better for foodstuffs etc not to have travelled more miles than necessary, but yet they chose to ignore this when saying there are other countries we can do our own deals with. Cutting your nose to spite your face comes to mind every time.

MerylStreep Wed 16-Jun-21 08:18:23

I hate to intrude on the pity party but isn’t it wonderful news coming out of Sunderland 👏👏👏👏
All the doom mongers posting here are the same ones who predicted that 1,000s would be out of work because of brexit.
Wrong again.
As you were 😄

25Avalon Wed 16-Jun-21 08:22:04

Farmers and horticulturist in Kent and Lincolnshire are short staffed. Although EU workers are permitted the pandemic has affected travel which has contributed to the shortage. These farmers are now having to offer higher wages, up to £20 per hour, which is good for our workers over here who have been on minimum wage for so long. Maybe more youngsters will now be attracted to work in agriculture. It does mean prices which have been kept artificially low by the supermarkets may increase. We’ll all be eating Granny Smith’s next!!

seamstress Wed 16-Jun-21 08:24:41

1000s of jobs have already been lost - are all those Hull fishermen and Kent farmers going to work in Sunderland? Farmers have advertised for Brits at higher wages and got zero responses.

mokryna Wed 16-Jun-21 08:28:52

It will save each U.K. consumer 52p per year but what will it save for climate change and the planet?

Alegrias1 Wed 16-Jun-21 08:31:23

The 24,000 jobs are across the supply chain, not at Nissan. There are 7,000 existing jobs at Nissan across the UK which are not being lost.

Big Brexit news: Good news! Things are staying exactly the same as they were for car manufacture!

25Avalon Wed 16-Jun-21 08:37:32

Nissan are also setting up the Nissan School’s Foundation to introduce more youngsters to the auto industry. Apparently every school child in Sunderland will be offered a place. They are also looking to set up electric battery production in Sunderland which is surely good news for the North East which has been a deprived area for so long. Also good news for another deprived area, Cornwall, where there are good prospects for extracting lithium for the batteries. Not all gloom and doom!

Alegrias1 Wed 16-Jun-21 08:51:30

The Nissan Skills Foundation has been in existence since 2014

Nissan want investment from the government for their battery factory.

Cunco Wed 16-Jun-21 08:59:18

I fear to paddle in these ultra partisan waters but I understand trade deals are one of the few areas where Parliamentary approval is not required in the UK. I think democracy is pretty well understood in the UK although it is open to debate how far it has operated for at least the last 50 years.

Whitewavemark2 Wed 16-Jun-21 09:01:05

25Avalon

You’ve been reading The Guardian again.The deal is not just about farmers which has already been discussed on another thread at great length. Interestingly enough Mary Quick of Quick’s cheese was on the radio and said Australia was her biggest customer although her cheese is much more expensive than theirs at the moment, but with the tariffs off she thinks it will be good for her company.

Financial, legal and professional services will probably benefit the most with the tariffs removed as that is something we do well. Cars, Scotch whiskey, biscuits, confectionary and ceramics will be cheaper to sell so increased trade prospects there.

Yes increased trade by 0.01%.

It is thought that the rushed deal of allowing adulterated products into the U.K. will set a precedent to allow other low standard food fromMexico and USA amongst others.

There has been no formal impact assessment done, on the impact of those industries which will be directly affected.

GrannyGravy13 Wed 16-Jun-21 09:04:33

I listened to Liz Truss being interviewed this morning and the figure of 0.01% was raised.

She pointed out that it is the flat figure at the moment during Covid and is set to rise in the coming years.

Whitewavemark2 Wed 16-Jun-21 09:05:24

The biggest risk imo, is that Johnson will give away too much in any trade deal in his rush to make up the shortfall resulting from Brexit.

Whitewavemark2 Wed 16-Jun-21 09:07:46

This is a real danger

"We don't have all the details so far but judged in terms of exports it looks to be a fantastic deal for Australia," said Dmitry Grozoubinski, a former trade negotiator for the Australian government and director of Geneva-based trade consultancy ExplainTrade.
"The deal immediately provides significantly better access to the UK market than Australian producers of beef, lamb and dairy enjoyed in the past, and only ramps up from there," he told CNN Business. "We have far fewer details on what the UK managed to extract by way of concessions in exchange, however."

25Avalon Wed 16-Jun-21 09:08:53

Alegrias1

The Nissan Skills Foundation has been in existence since 2014

Nissan want investment from the government for their battery factory.

Sorry should be Skills Foundation. Nissan are saying every school child in Sunderland will be able to take part.

I appreciate Nissan want Govt backing to set up their battery factory, but looks very promising.

Kali2 Wed 16-Jun-21 09:27:40

I will admit I have not done the calculations myself- but it is claimed that you would need 40 OZ deals to cover the loss of EU market.

The whole thing is just madness.

Whitewavemark2 Wed 16-Jun-21 10:09:11

Kali2

I will admit I have not done the calculations myself- but it is claimed that you would need 40 OZ deals to cover the loss of EU market.

The whole thing is just madness.

I thought they said 2000 deals on newsnight

MaizieD Wed 16-Jun-21 10:34:45

I fear to paddle in these ultra partisan waters but I understand trade deals are one of the few areas where Parliamentary approval is not required in the UK.

True, Cunco and my error.

However, for the past 40+ years the UK has not made independent trade deals; all deals being made by the EU, but such deals are subjected to scrutiny in the EU parliament. which has "extensive powers of scrutiny, including oversight of the negotiations, and a debate and vote on the trade agreement before it is ratified". (quoting from the introduction to this paper: www.geg.ox.ac.uk/sites/geg.bsg.ox.ac.uk/files/2020-09/GEG%20WP%20144%20Ripe%20for%20reform-%20UK%20scrutiny%20of%20international%20trade%20agreements_0.pdf )

In which case, trade deals undertaken by the EU have been subject to scrutiny by our elected representatives (MEPs) but are now no longer subject to such scrutiny.

PippaZ Wed 16-Jun-21 10:43:11

MerylStreep

I hate to intrude on the pity party but isn’t it wonderful news coming out of Sunderland 👏👏👏👏
All the doom mongers posting here are the same ones who predicted that 1,000s would be out of work because of brexit.
Wrong again.
As you were 😄

Do you think calling people "doom mongers" actually makes a wider set of people read the information you are trying to share or is it that you are always rude to the people you are talking with?