Tony Abbott slammed by experts, labelled ‘embarrassing’ and lacking a ‘basic grasp’ of economics

After sharing his two cents about the Brexit crisis, Tony Abbott was lashed by experts and told he lacked a “basic grasp” of economics.

After sharing his two cents about the worsening Brexit crisis, former Prime Minister Tony Abbott was promptly lashed by experts in Britain for lacking a “basic grasp of economics”.

The House of Commons yesterday overwhelmingly rejected Theresa May’s plan for a withdrawal from the European Union, and today narrowly survived a no-confidence vote.

Britain now faces the likelihood of leaving the EU without a deal in place — something Mr Abbott doesn’t seem to think is a bad thing.

He took to Twitter yesterday just moments after the British prime minister’s government’s defeat in parliament, to offer his view.

Mr Abbott wrote: “What’s wrong with no deal? Australia does $100 billion a year in trade with the EU without a deal.”

It didn’t go down well with our UK cousins, with experts slamming his “embarrassing” contribution to the debate.

Jonathan Portes, a professor of economics at King’s College in London, shot back almost immediately.

“Australia’s trade with the EU is worth about 7.5% of Australian GDP,” his tweet read. “UK’s trade with the rest of EU is worth more than 30% of UK GDP. Anyone with a basic grasp of economics (not @TonyAbbottMHR it seems) should spot the problem”.

Brexit enthusiast Tony Abbott has been slammed by trade and economics experts in the United Kingdom after offering his “embarrassing” two cents. Picture: AAP

A stream of replies to Mr Portes rebuke also pointed out that Australia is in the process of securing a free-trade agreement with the European Union.

In a second comment, Mr Portes said: “As others have pointed out, there are multiple reasons why @tonyabbottmhr is talking nonsense. My tweet focused only on the most obvious.”

International trade expert Dmitry Grozoubinski also slammed Mr Abbott in a direct reply, pleading with him to “stop”.

“Australia’s exports to the EU are dominated by raw commodities and agricultural products for which it enjoys country specific quotas the UK won’t get,” Mr Grozoubinski wrote.

“You are embarrassing. Stop.”

Former PM Tony Abbott was offering his advice to Britain on the Brexit crisis. Picture: AAP

Mr Grozoubinski knows Australia’s former PM well, having worked as a World Trade Organisation negotiator on behalf of his government.

Andy Bruce, an economics writer for the wire service Reuters, didn’t mince his words either.

“Gaffe-prone former Aussie PM, deposed by own party, once described by Council on Foreign Relations as most incompetent leader of any industrialised democracy: listen to this guy!”

Aren’t you in the middle of negotiating a trade deal with the EU?

— Sen. Neale Richmond (@nealerichmond) January 16, 2019

Wow, no wonder they booted you as prime minister...

— Cass Frances (@Cass_Frances_) January 16, 2019

Sharp as a damp sponge.

— tim edwards (@Sportsocratic) January 16, 2019

Mr Abbott’s post on the social networking site yesterday included a plug for an article he wrote for right-wing UK publication The Spectator late last year.

It was reprinted this week in a free magazine distributed across the country by a pub chain.

In it, he urged the British people to embrace a no deal exit in order to allow them to set their “own rules” when it comes to trade.

Mr Abbott also heavily criticised Ms May — something that prompted accusations he was colluding with her apparent leadership rival Boris Johnson.

Tony Abbott’s former chief of staff, now television commentator Peta Credlin, has also been sharing her thoughts on Brexit in the UK.

The piece was seized upon by conservative commentators and politicians, who viewed his advice as worthy. Mr Abbott is a member of a pro-Brexit advisory panel called The Institute for Free Trade.

Also sharing her thoughts in Britain recently about the state of the withdrawal from the EU was Mr Abbott’s former chief of staff, Peta Credlin.

Australian political commentator Peta Credlin suggests Britain show Brexit "backbone". Watch the full interview on YouTube:@JuliaHB1 | https://t.co/iXIIgUBrik pic.twitter.com/6O1f1did5l

— talkRADIO (@talkRADIO) January 11, 2019

Ms Credlin, a host on Sky News, was interviewed by Talk Radio and shared her advice, which largely mirrored Mr Abbott’s.

“You should plan for a no-deal Brexit,” she said. “You should square your shoulders, Britain. Put something on the table and walk away.

“Bugger Europe, they need you far more than you need them … a bit of bulldog spirit there. I want to see Britain look and sound the way it used to look and sound.”