• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home Politics

Kemi Badenoch says Labour front bench looks like they’ve been ‘sucking on lemons’ following CPTPP deal

"It must be really, really difficult to sit there while we have just agreed this fantastic trade deal"... that adds.0.08 per cent to GDP over 10 years.

Jack Peat by Jack Peat
2023-04-18 07:33
in Politics
FacebookTwitterLinkedinEmailWhatsapp

Kemi Badenoch says the government’s new post-Brexit trade deal with Asia-Pacific countries must be hard for Labour to swallow.

Speaking in parliament, the trade secretary said: “It must be really, really difficult to sit there while we have just agreed this fantastic trade deal.

“Looks like the Labour front bench has been sucking on lemons!”

Last month, Badenoch downplayed estimates pertaining to the economic impact of the Trans-Pacific Partnership (CPTPP) deal, saying joining the trade bloc is “about the potential for growth tomorrow”.

But according to new estimates, even the paltry 0.08 per cent figure could be over-hyped!

Hidden in the small print of a technical document published by the Department for International Trade is a disclosure that suggests calculations could have been intentionally juiced up to make the deal sound more appealing.

The document states that officials could not employ their usual approach to calculating the GDP benefits of a deal, known as a “Melitz-style model”, because there were too many unknown variables.

Instead, the department used a so-called “Armington-style” model to get the number for CPTPP, which the document notes tend to produce higher GDP figures “for a given free trade agreement”.

Kemi Badenoch – " It must be really, really difficult to sit there while we have just agreed this fantastic trade deal(CPTPP)"… that adds.0.08% to GDP over 10 years… "looks like the Labour front bench has been sucking on lemons" 🤦 pic.twitter.com/OC7XhjPwgJ

— Haggis_UK 🇬🇧 🇪🇺 (@Haggis_UK) April 17, 2023

Related: Just Stop Oil protesters unleash fury… at the snooker

RelatedPosts

Rachel Reeves ‘cries’ at PMQs after welfare chaos

Keir Starmer urged to apologise to disabled people after welfare chaos

Stop Brexit Steve confronts minister on £40bn EU blackhole

Channel 4 is showing Gaza documentary dropped by BBC tonight

Tags: Kemi Badenoch

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← Elon Musk goes to war with Canadian broadcaster over ‘government-funded media’ tag ← Food inflation soars to 17.2%, with BoE policymaker pinning blame on one thing
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->