After briefings overnight, the government’s just confirmed it has secured a trade deal with Australia on all UK goods – the first deal “negotiated from scratch by the government since we left the EU.” The agreement was thrashed out post-G7 in Downing Street last night, between Boris and Scott Morrison. No. 10’s catering team using Scottish salmon and Welsh lamb to persuade the Aussie PM…    

The government is hailing the FTA as improving the UK’s ability to export products like “cars, Scotch whisky, biscuits and ceramics” at a cheaper price to Australia. The PM will finally get access to his discounted TimTams…

On the thorny issue of farming, British farmers will be “protected by a cap on tariff-free imports for 15 years, using tariff rate quotas and other safeguards.” Sneering media types are enjoying parroting the stat that the deal will only add “0.01-0.02%” to UK GDP. Though trade specialists rightly point out this is far from the primary purpose of bilateral trade deals. Guido will raise an Australian shiraz to the news…