Post-Brexit bonfire of trade red tape to deliver £20bn export boost for UK economy

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The Government has promised a post-Brexit bonfire of trade barriers, expected to deliver up to £20billion worth of exports for the UK economy. Minister of State for Trade Policy Greg Hands told the House of Commons that the Government has so far removed 192 trade barriers across 79 countries, claiming that “the removal of just 45 of those barriers is estimated to be worth about £5billion for business over five years”. But he said the Government plans to go further, saying that there are 100 trade barriers worth £20billion set to be removed in the coming months.

Mr Hands explained: “We want to do more. The 100 trade barriers on our most wanted list have the potential to deliver £20billion of export opportunities for business across the UK.”

Trade Secretary Kemi Badenoch said the UK removes a “new trade barrier somewhere around the world” every week.

In a statement, she added: “From whisky in Argentina to gin in Angola, we’re slashing red tape and opening access to new markets and new customers.

“With these trade obstacles gone and more to follow, my message to UK businesses is clear – make the most of the huge global appetite for your fantastic products and sell to the world.

“As we line up deals with huge markets around the globe, including India and CPTPP, I can’t wait to celebrate the even greater wins which lie ahead.”

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