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Home ยป News ยป Brexit: This is a car crash story of Tory minister trying to big up UK-Asia trade deal

Brexit: This is a car crash story of Tory minister trying to big up UK-Asia trade deal

"The British people have been conned," wrote one person, just in case you didn't already know!

Joe Mellor by Joe Mellor
March 31, 2023
in Business, News, Politics
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Kemi Badenoch was out today, before April fools, trying to sell the UK fools gold.

She appeared on Sky News singing the praises of the CPTPP , as the UK has signed a deal to join a trade pact with several countries in Asia and the Pacific, including Japan and Australia.

She said: “It’s the first time we’ve joined a bloc in about 50 years, there’s strength in numbers…”

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Yep you heard that right!

Kemi Badenoch – "It's the first time we've joined a bloc in about 50 years, there's strength in numbers… " ๐Ÿ‘€#KayBurley #BBCBreakfast pic.twitter.com/P6H4PFioVl

— Haggis_UK ๐Ÿ‡ฌ๐Ÿ‡ง ๐Ÿ‡ช๐Ÿ‡บ (@Haggis_UK) March 31, 2023

Chris Bryant summed it up: “This would be funny if it werenโ€™t so depressingly predictable. Orwell called it doublethink when you spout things that you have half persuaded yourself you believe (but the truth keeps nagging away at you).”

This would be funny if it werenโ€™t so depressingly predictable. Orwell called it doublethink when you spout things that you have half persuaded yourself you believe (but the truth keeps nagging away at you). https://t.co/MdlNF1YJbP

— Chris Bryant (@RhonddaBryant) March 31, 2023

What about palm oil, can we get lower tariffs and ruin even more of the earth’s rainforests?

Yes we can according to Kemi, she said: “Yes.. moving the tariff from 2% to 0% won’t cause deforestation… palm oil is a great product, it’s not illegal.”

Anna Jones: Palm oil from Malaysia is seen to destroys habitats & is bad for the environment.. will there be lower tariffs on palm oil?

Kemi Badenoch: "Yes.. moving the tariff from 2% to 0% won't cause deforestation… palm oil is a great product, it's not illegal"#KayBurley pic.twitter.com/v62ztnXYyN

— Haggis_UK ๐Ÿ‡ฌ๐Ÿ‡ง ๐Ÿ‡ช๐Ÿ‡บ (@Haggis_UK) March 31, 2023

What is the GDP gain?

Well, the loss from Brexit was 4% and the gain from the CPTPP?

A pitiful 0.08%.

As the implausible blog wrote: “We already had deals with 9 of the 11 CPTPP countries. And we left the EU where we were rule makers and have joined CPTPP where we are rule takers. The British people have been conned.”

4% GDP loss with Brexit

0.08% GDP gain with CPTPP

We already had deals with 9 of the 11 CPTPP countries.

And we left the EU where we were rule makers and have joined CPTPP where we are rule takers.

The British people have been conned.

— Farrukh (@implausibleblog) March 31, 2023

The UK already had deals with the majority of these nations as part of its EU membership which have been carried over.

Since Brexit, the UK has added Australia and New Zealand to its trade deal tally.

It was just Brunei and Malaysia left that the UK didn’t have a deal with and between them those two account for less than 0.5% of the total of UK trade.

What did the BBC global trade correspondent make of it? Not much.

Dharshini David said: “According to the government’s own estimates the CPTPP deal will mean a gain of 8p for for every ยฃ100 of income… this is not a get rich quick scheme when it comes to the economic gains.”

Dharshini David(Global Trade Correspondent) – According to the government's own estimates the CPTPP deal will mean a gain of 8p for for every ยฃ100 of income… this is not a get rich quick scheme when it comes to the economic gains. pic.twitter.com/fVzmzjjrNb

— Haggis_UK ๐Ÿ‡ฌ๐Ÿ‡ง ๐Ÿ‡ช๐Ÿ‡บ (@Haggis_UK) March 31, 2023

Reactions

1.

Kemi Badenoch explaining why it makes sense to be part of a trade bloc.

Like the one next doorโ€ฆ.

Predict much more tying themselves in knots as the futility of Brexit becomes more and more gob-smackingly obvious.

pic.twitter.com/DH0YQHxWT8

— Jemma Forte (@jemmaforte) March 31, 2023

2.

"I'm not going to play that game."

Kemi Badenoch refuses to reveal how beneficial the trans-Pacific trade deal will be.

Iโ€™ll tell you Kemi 0.08% of GDP. EU trade was worth 4% of GDP – its a catastrophe
pic.twitter.com/Mtz3thljNg

— Simon Gosden. Esq. #fbpe 3.5% ๐Ÿ‡ช๐Ÿ‡บ๐ŸŸ๐Ÿ‡ฌ๐Ÿ‡ง๐Ÿดโ€โ˜ ๏ธ๐Ÿฆ ๐Ÿ’™ (@g_gosden) March 31, 2023

3.

Iโ€™d despair if I only didnโ€™t already run out of desperation

— ๐•Š๐•ฅ๐•–๐•—๐•’๐•Ÿ๐•  ๐Ÿ•๐ŸŽต๐ŸŒˆ๐ŸŽฎ๐Ÿ˜ธ (@Steffar0) March 31, 2023

4.

As this involves giving up sovereignty, will there be a referendum?

— Robespierre (YouTube) ๐Ÿ‡ช๐Ÿ‡บ (@MaxFRobespierre) March 31, 2023

5.

Good point?

Jeez, it's difficult to make a positive case for joining the CPTPP which doesn't also apply to rejoining the EU…#RejoinTheEU

— paulusthewoodgnome ๐Ÿ‡บ๐Ÿ‡ฆ๐Ÿ’™ (@woodgnomology) March 31, 2023

Related

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Tags: BrexitCPTPP
Joe Mellor

Joe Mellor

Owner of Spotted News and former Head of News for The London Economic.

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