Objectives and impact assessment for UK negotiations with Australia can be found here:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/892747/UK_strategy_for_UK-Australia_free_trade_agreement.pdf

Here is the potential economic impact:

Estimated impact in table form:

Here is the estimated sectoral impact:

Me here is the estimated regional impact:

Here is the combined estimate of impact of a UK FTAs with NZ and Australia.

One caveat I would make: the big jump in UK imports under scenario 2 comes from full liberalisation of agrifood tariffs: this is very very unlikely to happen.

(It also assumes NZ/Aus exporters will make heavy use of new preferences, which as per existing EU TRQ for NZ lamb not being filled is not necessarily a guaranteed thing.)

Anyway, to conclude: it’s not about the economics anyway. https://twitter.com/samuelmarclowe/status/1273173135748214784?s=21 https://twitter.com/samuelmarclowe/status/1273173135748214784