Anthony Lucas – Ticker News
Well, big news overnight for UK and Australian citizens with the free trade agreement between the two nations being signed. For more on what this means for big businesses, but most importantly, small businesses as well. Let’s bring in Bill Lang from Small Business Australia. Welcome in Bill. Great to see.
Bill Lang – Small Business Australia
Hi, Anthony. Good to see you.
Absolutely. Now let’s start with Bill. What is this free trade agreement? And what will it mean for our small businesses in this country?
You look what free trade agreements are Anthony’s basically a deal between a couple of countries where they lower the barriers, lower the costs, lower the difficulties for each country’s businesses to trade with each other. So they will make it freer, so less friction, less difficult, much easier. What it means for Australian businesses, there’s a whole range of things now that they can be exporting to the UK, and the prices charged in the UK will be lower. There will be less taxes, less tariffs, but also means for UK businesses will be things that they can now get to Australia and Australia’s will be able to buy them at a lower cost. So it ends up being a win win for the businesses and citizens on each country.