News World Mathias Cormann keen on UK free trade deal

Mathias Cormann keen on UK free trade deal

Mathias Cormann
Finance Minister Mathias Cormann was holidaying in Singapore. Photo: AAP
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Finance Minister Mathias Cormann expects Australia will do a free trade deal with Britain “very quickly” after Brexit occurs.

Speaking to Sky News Cormann was confident a deal would be done shortly after UK Prime Minister Theresa May triggers Article 50 and Britain begins to exit the European Union.

Cormann said preliminary conversations had taken place and there was goodwill between the nations.

The news comes in the wake of the May seeming to promise a ‘hard Brexit’ as the UK cuts ties with Europe’s single market.

New Zealand has already confirmed their interest in a trade deal with Britain.

New Zealand Prime Minister Bill English visited London last week and said he hoped negotiations could start as soon as possible on reaching a “high quality” trade deal with the UK.

On Wednesday Boris Johnson also flagged a free trade deal between the UK and India.

Brexit–related job loss to hit Ireland

Meanwhile Ireland’s economists are predicting massive post–Brexit doom and gloom for their country.

Ireland’s chief government economist John McCarthy has warned around 40,000 people will lose their jobs as a result of Theresa May’s hard Brexit plan.

Exports to the UK are set to nosedive by nearly a third and 20 billion euro will be heaped on to Ireland’s national debt over the coming decade, it is also predicted.

John McCarthy said much of the pain will be front-loaded over the coming five years but the fallout would continue afterwards.

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