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I know what the political intent is/was, what the civil service and Border Agency comes up with may be different:
- for regular business visitors
- for low risk travellers
- for very frequent visitors to the UK.
This came from a briefing from the PM's office in May 2012 (old news). Global Entry also required the UK to offer reciprocal treatment. The original name of this was "trusted traveller scheme".
So make of that what you will, I don't know much more than this.