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A weaker than expected recovery from the coronavirus pandemic has left the UK as the only G7 country with a smaller economy than in early 2020, according to official figures likely to further undermine the government’s tax-cutting measures.
“Furthermore, exports likely will continue to struggle as external demand in key trading partners softens and Brexit frictions remain in place.”
Official figures corroborate academic studies showing sharp drop in exports since Brexit.
Figures show Brexit compounding Covid disruption, with clothing exports plunging 60%, vegetables down 40% and cars 25%.