Around 82 per cent of goods imported from the European Union will remain tariff free in the event of a no-deal Brexit, the government has announced.
If MPs vote this evening to leave without a deal, tariffs will also be slashed on a range of imports from outside the EU.
The scheme announced today means 87 per cent of all imports to the UK by value would be eligible for zero-tariff access, with other goods subject to a lower rate than currently applied under EU rules.
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Currently, 80 per cent of imports are tariff free.
Products subject to tariffs under the scheme include beef, poultry and certain dairy products, in order to protect some industries.
The new tariff regime would be temporary, and will apply for up to 12 months while a full consultation and review of a permanent approach is undertaken.
Trade policy minister, George Hollingbery, said: "If we leave without a deal, we will set the majority of our import tariffs to zero, whilst maintaining tariffs for the most sensitive industries.
"This balanced approach will help to support British jobs and avoid potential price spikes that would hit the poorest households the hardest."