The Environment, Food and Rural Affairs (EFRA) Committee has launched an inquiry into the impact the Free Trade Agreement (FTA) the UK Government has signed with Australia will have on farmers, food producers, retailers and consumers.
The Government has said the arrangement with Australia will boost the economy by £2.3 billion and add £900 million to household wages in the long-run. It has further called it a gateway to the UK joining a wider trading arrangement – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
This Australia FTA is the first ‘new’ trade deal the UK Government has signed since leaving the European Union (EU), as opposed to ‘rolled over’ agreements based on former deals the UK had with different parts of the world when it was an EU member.
The inquiry will examine, among other things, the impact the agreement will have on consumers, farmers, food producers and retailers; whether the deal will reflect the UK’s commitment to high animal welfare and environmental practice; and the implications of the FTA for future trade deals with other parts of the world.
