Brexit: Mr Kipling’s cake among the winners as Truss hails Australia’s ‘gold standard’ trade deal | Politics | New
And, to give the UK food and drink industry a boost, the post-Brexit deal will help popular cake brands like Mr Kipling. The Commerce Secretary praised the upcoming deal with Australia, which she said will help Britain recover from the coronavirus pandemic.
She also pointed out that the government was seeking to significantly reduce tariffs on British imports into Australia.
Some products such as cheese are currently subject to a tariff of up to 20 percent.
She said Dailymail.co.uk: “From our world-renowned food and drink industry to our car and train manufacturers, we are pushing for lower tariffs on iconic UK exports.
“We know that export-oriented jobs are generally more productive and better paid, supporting jobs across the country, which will help us rebuild better after the pandemic.
“A landmark deal with our Australian allies, which is now in sight, would mark the next generation of trade deals and deliver great benefits to individuals and businesses across the UK.”
Richard Martin, Chief Customer Officer at Premier Foods, told the outlet: “British cakes Mr Kipling and Cadbury have quickly become the number 1 and number 2 cake brands in the Australian market respectively, and are purchased by 20% of Australian households. .
“A reduction in tariffs would support the future growth of these brands and facilitate opportunities for UK food and drink.”
It comes after the Trade Minister told MPs that UK businesses would be able to save £ 115million in tariffs when Ms Truss signs a trade deal with Australia this month.
Greg Hands praised Ms Truss’ plans as talks drew to a close.
Mr Hands told MPs the trade deal was a “major milestone” in Britain’s trade policy.
He said: “The deal will be the most advanced that Australia has concluded with any country except New Zealand and where we expect it to be particularly forward looking. in areas such as services, purchasing and digital commerce. “
Total trade between the UK and Australia stood at £ 18.8bn in 2019, with an agreement expected to lead to an additional £ 900m of trade.
It could also add another £ 500million to the UK’s annual GDP.