Britain has already begun informal trade negotiations with 12 countries across the world, Liam Fox reveals as he says Brexit is "key to British prosperity".

Writing in The Telegraph, the International Trade Secretary says that Britain is conducting “trade audits” in order to prepare deals that can be announced as soon as the UK quits the European Union in 2019.

It is understood that ministers and officials are already in talks with countries including China, India, Australia and South Korea as well as Middle Eastern nations such as Saudi Arabia and Oman.