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00:00:00
>>
NOISE] J
guar Land Rover is one of the success stories of Britain's trade deals with China. In recent years, as many as one in five of the car's on its production lines has ended up there. But a Reuters investigation has found that overall, UK exports to China are not what the government promised.
00:00:17
The £36 billion worth of deals that were announced over the last five years have amounted to less than £6 billion of actual exports. Reuters Tom Bergin has been crunching the numbers.>> What we saw time and again was the government was announcing deal sizes of tens or possibly hundreds or even billions of pounds Where by the UK partner was contributing services or goods that might be just a couple hundred thousands pounds.
00:00:46
>> There was another £3 billion for deals that were never formally sealed. While others involved British companies but exports made outside the UK. Creative accounting is nothing new, of course. The famous Brexit battle bus a case in point. But it matters here because the government's counting on countries like China to replace lost markets when Britain leaves the EU.
00:01:11
The reality is clearly very different.>> You can send a management consultant or a bank advisor, any kind of trainer around Europe quite easily. They can make a day trip. They can't do that to China. Even if they could, they would struggle to get the visa to do that.
00:01:26
>> In fact, when it comes to services, many companies are using people on the ground, which once again, means less money coming back to the UK. The government declined to comment on the discrepancy in the figures, China still very much a part of its plans.