And, in a boost for the UK’s food and drink industry, the post-Brexit deal will aid popular cake brands – such as Mr Kipling. The Trade Secretary has heaped praise on the forthcoming deal with Australia, which she says will help Britain bounce back from the coronavirus pandemic.
She also stressed that the Government was looking to significantly reduce the tariffs on UK imports to Australia.
Some products such as cheese currently have a tariff of up to 20 percent.
She told Dailymail.co.uk: “From our world-famous food and drink industry to our car and train manufacturers, we’re pushing to slash tariffs on iconic British exports.
“We know that export-led jobs are typically more productive and higher paying, supporting jobs across the country which will help us build back better from the pandemic.
“A gold standard agreement with our allies Australia, which is now in sight, would mark the next generation of trade deals and will deliver big benefits for people and business across the whole of the UK.”
Richard Martin, chief customer officer at Premier Foods, told the news outlet: “British made Mr Kipling and Cadbury cakes have fast become the number 1 and 2 cake brands in the Australian market respectively, and are purchased by 20 per cent of Australian households.
“A reduction in tariffs would support the future growth of these brands and facilitate opportunities for British food and drink.”
It comes after the Trade minister told MPs British firms will be able to save £115million in tariffs when Ms Truss signs a trade agreement with Australia this month.
Greg Hands praised Ms Truss’ plans as the talks were coming to an end.
Mr Hands told MPs that the trade deal was a “major milestone” in Britain’s trade policy.
He said: “The deal will be the most advanced that Australia has struck with any nation bar New Zealand and where we expect it to be particularly forward-leaning in areas such as services, procurement and digital trade.”
Total trade between the UK and Australia was worth £18.8billion in 2019 with a deal expected to lead to an added £900million in trade.
It could also add an extra £500million to the UK’s annual GDP.