Macroeconomics: UK economy, IB Economics

Ah, Brexit! This time, the BBC looks at the costs and benefits of the recently struck trade deal with Australia and how it affects two businesses. 

One, exporting high tech golf carts, expects to benefit, but I wonder whether a 5% cut in import tariffs and the abolition of paperwork is really going to see a 900% increase in the quantity of carts sold - it makes some interesting assumptions about PED for a start.

But equally, is the beef farmer unduly pessimistic? Are we going to be overrun by cheap Australian beef, or is the prospect of higher food standards and better provenance for local producers going to offset that. Either way for the International Trade Secretary to suggest that a £2.5bn boost to exports is "fantastic" rather overlooks the costs of Brexit on UK-EU trade.