The free trade pact between Australia and Britain set to cut taxes on a range of goods has cleared a major hurdle.
UK legislation to bring the agreement into effect has received royal assent, paving the way for the British and Scottish parliaments to implement the final piece of legislation needed to complete the process.
The Australia-UK free trade agreement needs to be ratified by both nations’ parliaments. Australia’s parliament ratified the pact at the end of last year.
Trade Minister Don Farrell said the agreement would benefit Australian exports and consumers with tariffs to be cut on 99 per cent of goods sent to the UK, which are worth some $9.2 billion….