Morrison bid to calm nerves as Abbott talks up benefits

Scott Morrison has attempted to calm voters in the wake of the Brexit chaos in London as leading conservatives embrace a no deal.

Scott Morrison in Vanuatu yesterday. Picture: AAP

Scott Morrison has attempted to calm voters in the wake of the Brexit chaos in London, as Tony Abbott and other leading conservatives urged Australia to embrace the ­opportunities of a no-deal.

Speaking from Vanuatu, the Prime Minister said he was prepared for a range of Brexit options.

“We have been working assiduously now for several years since the Brexit vote to ensure that we are addressing our market access — our market access now, in terms of the EU, which still includes the UK, but also envisage how we ­engage in a post-Brexit world,” Mr Morrison said.

“The circumstances of that are unclear. Australians should feel reassured that a safe and steady pair of hands has been managing what is a very uncertain and unstable set of arrangements.

“The direct economic impact on Australia, I know from my days as Treasurer, is limited. But it does highlight the impacts of global uncertainty in the economy.”

Conservatives in the Liberal Party sounded more optimistic about a no-deal Brexit.

Mr Abbott said yesterday a no-deal could reap trade benefits for Australia.

“What’s wrong with no deal? Australia does $100 billion a year in trade with the EU without a deal,” he tweeted.

Conservative members of a joint parliamentary committee into the nation’s future trade relationship with Britain have also backed a no-deal Brexit.

Tasmanian Liberal senator Eric Abetz said he always believed a hard Brexit was the best option for Britain and Australia.

“Britain would be unshackled by the EU bureaucracy and there would be more access for Australian businesses,” he said.

“Look at our previous trade relationship, like in Tasmania, with our apple exports. Tasmania is a microcosm for the trade opportunities that could become available for Australia.”

Meanwhile, West Australian Liberal senator Dean Smith said trade opportunities could open quickly under a no-deal Brexit as Britain rushed to reassert its global economic power.

“In the seeming chaos, there are obvious and very tangible ­opportunities for Australia to re-engage with fresh eyes with the United Kingdom,” he said.

“The need for the UK to reassert itself economically will be a powerful motivator to cementing durable trade links.”

Former international development minister Concetta Fierravanti-Wells said Australia would benefit in a no-deal scenario by Britain’s attempt to reinvigorate the Commonwealth. “Given our historical, security and person-to- person links, the relationship between Australia and Britain will grow even stronger,” she said.