The U.K.’s plan to review its financial rulebook undermines prospects of a deal with the European Union on post-Brexit market alignment, according to a leading EU lawmaker on the issue.

'The Covid veil, now almost completely lifted, has revealed the challenges still faced by exporters struggling with customs and paperwork challenges and other Brexit constraints putting off overseas customers'

Food prices are set to rocket once the UK leaves EU, according to John Glen, economist at the Chartered Institute of Procurement & Supply.

The ability to sign free trade deals independently was touted as one of the main positives with Brexit, however agreements with Australia and New Zealand have been predicted to have limited economic impact.

Clients are switching to local sourcing to avoid the post-Brexit trade complications, the PMI survey found.

Treasury secretary John Glen tried to dodge the question when quizzed on the Today programme.

Jo Foster has asked her MP, Rishi Sunak, three times for help with her businesses struggling after Brexit. She told Politics Editor Ralph Blackburn he needs to face up to reality.

Output, new orders and jobs in the sector fell to a four-month low in May, according to closely watched economic data.