Britain and Australia signed a historic deal last night designed to unlock £10billion in extra trade – in a huge boost for Brexit Britain.

The agreement will remove all export tariffs, and it will allow Britons to live in Australia for three consecutive years.

Lis Truss and Anne-Marie Trevelyan had agreed to the principle of the agreement last June. Anne-Marie Trevelyan was her successor in International Trade Secretariat.

It is the UK’s first ‘from scratch’ trade deal since leaving the EU. The EU has already made other agreements that have been built on.

A good day: Liz Truss, now Foreign Secretary, with Australian trade minister Dan Tehan earlier this year

Good day! Liz Truss was the Foreign Secretary and Dan Tehan, Australian Trade Minister, at earlier this year’s beginning.

Miss Trevelyan stated that it established new standards for digital and service technology worldwide, creating work opportunities and new travel options for Australians and Britons. She added: ‘Our UK-Australia trade deal is a landmark moment in the historic and vital relationship between our two commonwealth nations.

‘This agreement is tailored to the UK’s strengths, and delivers for businesses, families, and consumers in every part of the UK – helping us to level up.

‘We will continue to work together in addressing shared challenges in global trade, climate change and technological changes in the years ahead. We have shown the UK what it can do as an independent, sovereign trading nation.

‘This is just the start as we get on the front foot and seize the seismic opportunities that await us on the world stage.’

Boris Johnson, the Australian prime minister Scott Morrison and Boris Johnson in London agreed to principle. Negotiators are now working on all chapters.

The agreement was signed last night. It will now go before Parliament to be inspected. The deal is expected to unlock £10.4billion of additional trade, boosting the British economy and increasing wages across the UK, while eliminating tariffs on 100 per cent of UK exports.

It is a deal tailored for our economy with cutting-edge agreements in areas where Britain is a world leader, including in digital and tech, along with increased access to Australia for the UK’s powerhouse service sectors.

It gives UK firms guaranteed access to bid for an additional £10billion worth of Australian public sector contracts per year.

This visa allows young people to travel to Australia and work for up to three consecutive years. Previous visa restrictions have been removed. For the first time UK service suppliers – including architects, scientists, researchers, lawyers and accountants – will have access to visas to work in Australia without being subject to their skilled occupation list. This offer is greater than any other country has received in free trade agreements.

The deal removes tariffs on all UK exports, making it cheaper to sell iconic products such as cars, Scotch whisky and fashion to Australia, while making Australian favourites like Jacob’s Creek and Hardys wines, Tim Tam chocolate biscuits and surfboards more accessible for British consumers.

The deal is also a gateway into the fast-growing Indo-Pacific region and will boost our bid to join CPTPP, one of the largest free trade areas in the world, covering £8.4trillion of GDP and 11 Pacific nations from Australia to Mexico.

The deal was agreed in principle by Boris Johnson and Australian prime minister Scott Morrison in London in June, and negotiators have now finalised all its chapters

Boris Johnson and Scott Morrison, Australia’s prime minister, agreed on principle in London. Now the deal is in its final stages.

Nicola Watkinson, managing director of financial trade body TheCityUK, said: ‘This agreement with Australia is further evidence of the UK breaking ground with new trade deals with key trade partners. It rightly focuses on issues important to the services sectors representing 80 per cent of the UK economy.’

Stephen Phipson, chief executive of manufacturers’ body Make UK, said: ‘Achieving a new preferential trade arrangement with Australia is welcome for Britain’s manufacturers who will benefit from day one with tariff-free access on goods sold.’

Dan McGrail, chief executive of RenewableUK, the green energy trade association, said: ‘This free trade agreement will make it easier for UK and Australian companies to export green technologies and expertise, speeding up the transition of both countries to our net zero goals.’

Labour’s international trade spokesman Nick Thomas-Symonds said they supported a free trade deal, but added: ‘We will scrutinise the details of this agreement very carefully and will hold the Government to promises made to farming communities, its pledges on environmental protections, and on food and drink standards.’ 

Ten key benefits are coming to our door 

Ministers say the deal will increase trade with Australia by 53 per cent, boost the economy by £2.3billion and add £900million to household wages.

These are the ten most important benefits of Department for International Trade.

  • BOOST SERVICE SECTOR:British service providers and investors have unrivalled access. It’s the first time Australia has given service firms, including researchers, accountants and lawyers, such access to their market 
  • SIMPLE BUSINESS TRIPS: Better business travel for British professionals. Access to visas for architects, scientists, accountants, and lawyers will be made easier. 
  • TARIFF-FREE TRADE:All UK exports to Australia are exempted from tariffs, supporting the 1.4 million-strong British industries
  • EASY VISAS FOR UNDER 35SBritons 18-35 years old will be allowed to travel and work with a visa special for up three years 
  • DIGITAL TRADE BONANZA:UK businesses have more digital trading opportunities with Australia 
  • CHEERS!British shoppers and manufacturers will see lower prices. Removal of tariffs on Australian favourites such as Jacob’s Creek will bring down prices 
  • BONFIRE OF ROLED TAPETo help entrepreneurs and small-business owners, the customs authorities will immediately release any goods and all food within 48 hours.
  • MAKE A DEALGet access to Government contracts worth billions of pounds. British firms will be able to bid for £10billion a year on equal footing with Australian companies
  • COOPERATION:Greater cooperation on common challenges Collaboration will be encouraged in the fight against climate change and unfair trade practices.
  • NEW TRADING FRIENDS: Australia supports UK membership of the Trans-Pacific CPTPP trade agreement, opening up 11 markets worth £8.4trillion, in a major step for trade in the Indo-Pacific region