Bill Introduced To Enable Implementation Of Australia And New Zealand Deals

The UK government has introduced a bill which will help to bring into force its first independently negotiated Free Trade Agreements in more than 50 years.

The UK signed the Australia Agreement in December and the New Zealand Agreement in February. The UK-Australia Agreement is expected to increase trade by 53 percent, boost the economy by £2.3 billion and increase wages each year in the long-run. The UK-New Zealand Agreement is expected to increase trade by almost 60 percent and boost the economy by £800 million.

For the agreements to be ratified and brought into force, Parliament must scrutinise the agreements, the Trade (Australia and New Zealand) Bill has to be agreed by Parliament, and secondary has to be passed by Parliament to make the changes required.

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