UK shoppers to save 20p per bottle on Australian wine under trade deal
Revealed: UK shoppers will save 20 pence per bottle on Australian wine when Britain’s new free trade deal with Canberra kicks in later this year
- The UK and Australia have struck a free trade deal to be rolled out later this year
- Deal will see tariffs slashed on Australian wine imports saving shoppers 20p
- It is also hoped the removal of tariffs will pave the way for greater choice
UK shoppers will save 20 pence per bottle on Australian wine under the terms of Britain’s new free trade deal with Canberra, according to the Government.
Boris Johnson and his Australian counterpart Scott Morrison agreed to the trade pact in principle back in June and it will come into force later this year.
The deal will see tariffs on Australian wine imports slashed from up to 20p per bottle to zero.
It is hoped the move will see more varieties of wine imported, giving shoppers greater choice.
Liz Truss, the International Trade Secretary, said that ‘more free trade means lower prices and more choice for shoppers’ while the Australia deal will be the ‘tip of the iceberg’.
UK shoppers will save 20 pence per bottle on Australian wine under the terms of Britain’s new free trade deal with Canberra, according to the Government
The deal will see tariffs on Australian wine imports slashed from up to 20p per bottle to zero
The deal with Australia represents the first ‘from scratch’ trade agreement struck by the UK since it left the European Union.
The Government hopes it will pave the way for similar deals with other nations in the coming months and years.
The removal of tariffs on Australian wine imports will apply to household name brands like Jacob’s Creek and Hardys.
The tariff on wine imports from the nation is currently charged at £26 per hundred litres which translates to up to 20p per bottle.
The UK imported an estimated £290million worth of wine from Australia last year, making it Britain’s top food and drink import from the country.
Official figures from Wine Australia showed that more than a third of its wine exports by volume go to the UK.
That makes the UK Australia’s top global export market for wine when measured by volume.
Ms Truss said: ‘Our trade deals with Australia and other friends will bring a big, post-Brexit divided for consumers.
Ms Truss and Australian Trade Minister Dan Tehan met in London earlier this year to finalise the deal
‘It is clear the UK has a great thirst for Australian wine, and it is fantastic that we will now have a greater selection on our shelves.
‘More free trade means lower prices and more choice for shoppers.
‘This is just the tip of the iceberg, with more deals in the pipeline and I will be fighting hard in all of these to bring home the benefits for the British people.’
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