Question to the Department for International Trade:

To ask the Secretary of State for International Trade, whether her Department has made a recent assessment of the potential impact of the UK’s trade agreements with (a) Australia and (b) New Zealand on the economy.

The Impact Assessment of the Free Trade Agreement (FTA) between the UK and Australia and the Impact Assessment of the FTA between the UK and New Zealand are available on gov.uk.

The Australia and New Zealand FTAs are expected to increase bilateral trade by 53% and 59% respectively in the long run and boost the UK economy by £2.3 billion and £800 million when compared to projected levels of GDP in 2035. Take-home pay for UK workers could increase by £900 million and £200 million respectively, when compared to 2019 levels.

We have committed to publishing a biennial FTA monitoring report, and a comprehensive ex-post evaluation report for both these agreements within 5 years of their entry into force.