Brexit positive for Australia: John Howard

Former prime minister John Howard says there are “good signs” for Australia’s economic relationship with a post-Brexit Britain.

Former prime minister John Howard speaks at the Anglo-Australian Forum. Picture: John Feder

Former Australian prime minister John Howard says any return to an open trading agreement with post-Brexit Britain would be unrecognisable from the old imperial trade deal between the two countries.

Delivering his keynote address at the Spectator Anglo-Australian Forum in Sydney today, Mr Howard said Australia’s trade relationships had dramatically changed since Britain turned its back on Australia in 1971, opening up extraordinary new trading relationships for Australia in Asia.

He said British Prime Minister Theresa May’s “loss of authority” after a “disastrous election” made it impossible to guess just what the final Brexit deal would look like. But while the UK was still bogged down in a “terrible dilemma” as it negotiated its departure from the EU, it clearly offered new opportunities for British investment in Australia.

“There are some good signs on the economic relationship front,” he said.

“The signing of the frigate deal amazed me … I think it is seriously a very, very interesting development.

“Foreign investment remains absolutely critical to this country and I take the strongest possible view … that Australia should be open for investment from all sources.”

Mr Howard said he had seen first hand the “pernicious” effect the EU had on Britain’s relationship with Australia during trips to the UK after his appointment in 1977 as minister for special trade negotiations.

“I was patted on the head and patronised in every capital city I visited, including London,” Mr Howard said.

“I am delighted that Britain voted to leave the EU, I wanted the British to recover their independence.”