Upon announcing its new free trade agreement with Japan last week, the Department for International Trade (DIT) said: “Government analysis shows that a deal with Japan will deliver a £1.5 billion boost to the UK economy.”

The problem is that this is a predicted £1.5 billion boost without taking into account the trade deal with Japan struck by the European Union, which came into effect in February 2019 and has been the basis for UK-Japan trading ever since.

In fact, back in 2018 the DIT predicted the EU-Japan deal would deliver a boost to the UK economy of £2.6 billion after 15 years—£1.1 billion more than the post-Brexit deal struck last week.

The government acknowledged this in a second press release the following day. 

It’s also worth pointing out that the two estimates aren’t necessarily comparable; one expert told us the estimated value of the EU’s deal with Japan was “what an economist would refer to as a ‘back of the envelope calculation’ or a ‘ballpark estimate’.”

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1 COMMENT

  1. Give it a bit more time let the scale of it start affecting the sleeping and ignorant! Just think if the Blair Scam FBPE, PV, 2Ref Bandwagon, Galloway’s Vote Brexit Sheep, The MSM Zombies did not do their thing! Just bloody think!
    Shit happens and here we are, next big test, will they be awake by the Next GE to realise their choices are: NO CHOICE AT ALL!
    For the TORY ELITE vs For the TORY ELITE!
    One of those Tories are far more dangerous than the other, he is the Architect behind Julian Assanges Arrest!
    Oh dear, what to do, what to do! The Wolf or the Wolf in Sheep’s Clothing!?
    Perhaps keep repeating to yourselves It’s a Sheep, there is No Wolf, It’s a Sheep, there is No Wolf, It’s a Sheep, there is No Wolf, It’s a Sheep, there is No Wolf, It’s a Sheep, there is No Wolf, It’s a Sheep, there is No Wolf, It’s a Sheep there is No Wolf! That should make it all good!