“There were a succession of Tory prime ministers who tried to land this and didn’t.
Former Chancellor George Osborne has praised the recently announced UK-India trade deal, calling it a significant diplomatic and economic win for Britain despite the controversy it has stirred among critics and the opposition. Osborne has praised the recently announced UK-India trade deal, calling it a significant diplomatic and economic win for Britain despite the controversy it has stirred among critics and the opposition.
In an Interview about the political consequences of recent Treasury decisions and larger geopolitical trends, Osborne made the case that striking a trade deal with India should succeed, particularly because Britain is no longer a member of major economic blocs like the EU following Brexit.
Osborne pointed out that the agreement is an exceptional way of fulfilling the post-Brexit pledge to establish new international economic relations, saying, “There were a succession of Tory prime ministers who tried to land this and didn’t.” “For some years, Indian employees who are paying the Indian government the equivalent of national insurance do not pay national insurance here, which seems like a pretty minor compromise to me.”
Osborne acknowledged the criticism, particularly from figures like Nigel Farage, who called the agreement “scandalous” and claimed it would undermine British workers. In response, Osborne pointed out, “The majority of the other trade agreements promised by Brexit have not materialised, and they took us out of our biggest trade deal, the single market. What happened to the American one?”
He described the agreement as a double taxation relief, a standard provision in many international tax treaties, and indicated that the criticism is more the result of political opportunism than the deal’s true content.
Osborne did, however, acknowledge that the announcement had been handled poorly by the administration. It came as a bit of a surprise. he added that “I don’t think it’s been explained,” defining it as a communications breakdown that exposed the government to criticisms and misunderstandings.
Regarding more general geopolitical dynamics, Osborne underlined the significance of strengthening ties with nations such as India, particularly in light of the uncertain nature of ties with longstanding allies like the US. “I believe it is a good thing to demonstrate that nations like India are willing to negotiate with us in a world where our traditional ally is making things difficult for us with tariffs.”
