Boris Johnson’s much-lauded trade deal with Australia will cut the price of an imported bottle of a wine only by “a couple of pence”, according to a critical report by MPs, which urged the prime minister not to oversell the benefits of such agreements.
The international trade select committee said on Wednesday that while tariff reductions on processed food and drink could benefit consumers, they were unlikely to make a “noticeable difference” at supermarket checkouts.
Meanwhile, the deal would allow tariff-free food from Australia to be sold into Britain without meeting core UK food production standards related, for example, to pesticide use.
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