Australia

In response to questions about not reaching an agreement, the PM says in which case the UK can have an "Australia" trade agreement with the EU.

Australia does not have an FTA with the EU.

Australia is on the other side of the world.

It has about 25 million inhabitants.

It is negotiating a trade deal with the EU anyway.

It already has some smaller arrangements with the EU.

Apart from that, the UK being 21 miles from the shores of the EU is just like Australia and can do without an FTA. Australia is 9,445 miles away. Australia does not have a fixed link with the EU, and neither is the EU visible from any of Australia's coastline. So, could the UK survive without an FTA with the EU?

It could. It will.

But it will be tough.

There will be shortages.

Traffic jams.

There will be inflation.

There will be large job losses.

But there will always be the Brexit bonus to tide us over, though the Brexiteers don't really talk much about that any more.