US-UK trade deal: PM eyes three-course meal, but may end up with packet of crisps

Benefits of striking deal with Trump may be outstripped by losses from crashing out of EU

It was supposed to be one of the biggest Brexit dividends. According to Liz Truss, an "ambitious and comprehensive" trade agreement with Donald Trump would reflect Britain's unique relationship with the US, cutting red tape and tariffs to help British businesses and the economy grow.

The value to the nation: at most, an economy 0.16% bigger after 15 years. In the cold language of economic benefits, such a small number is almost a rounding error. The gains in cash terms are roughly 3.4bn under the best-case scenario, an amount worth less than the current annual contribution of Brentwood or Bury.