I am old enough to remember the sky falling on our heads in the early 70’s when the UK ditched the country that had fed it through two world wars in favour of joining the EEC (European Economic Community).  

Growing up in Balclutha with its almost total reliance on the farmers' exports, much of which went to the UK, this was an economic shock that, even though I was only 7 or so, I can still recall. 

I think it wasn’t just the economic shock that hurt, it was what was seen as a betrayal by the nation that my grandmother even then still referred to as “home”.  Many of her generation did, which is ironic given she wasn’t born there nor did she ever visit the UK.

Even though few here other than native born Britishers would refer to the UK as “home” any more, Thursday’s announcement of a free trade agreement with the United Kingdom is a reeling turning back of the clock economically and has to be good news for Central Otago.

There is one big and immediate winner and that is with wine exports.  The current tariff of up to $50/100L will be gone “overnight” in the words of the PM.  

Given that the UK market has a taste for premium wine (alongside an overpowering thirst for Marlborough Sauvignon Blanc), our local producers must be raising a glass of their fine product to a great opportunity moving forward.

Alongside that is removal of the tariff (currently 7.2%) off apples within three years and you can see what this could mean to us economically.

Regrettably sheep and beef meat tariff removal is far further down the track (15 years), but all round, yesterday’s news is very welcome at a time when good economic news is very rare indeed.