Pioneering move will boost srowth and living standards

IN AN increasingly unstable world Britain should be self-assured of her place as a confident trading nation.

- Jonathan Reynolds

As of midnight, Britain formally joined CPTPP- the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

By becoming the first European member of this far-reaching trade group, spanning five continents and 12 economies, we have shown we are determined to seize the opportunities of tomorrow.

This Government is not bogged down in dogma. We are determined to deliver higher living standards for the British people.

And where there are opportunities for Britain to forge a new path post-Brexit - delivering opportunities for business and cheaper prices for consumers - we will not hesitate to grasp those opportunities with both hands.

Our accession today transforms CPTPP from a Pacific agreement to a truly global one, raising its collective GDP to £12trillion in 2023. That's 15 per cent of the world's economy.

It's further proof that the UK is a wonderful place to do business, with an open, outward-looking economy driving the growth people can feel in their communities.