Bill Esterson
The forecasts released by the Office for Budget Responsibility (OBR) at November’s budget made for grim reading. Productivity and growth were both revised down, while the figures for trade went off a cliff—export growth will go from 5.2 per cent in 2017 to just 0.1 per cent in 2022. Business investment too has collapsed and will remain low. We need a strong industrial strategy if we are to beat these forecasts, and we must ensure that our trade strategy is fully aligned and complementary with it.
“Trade deals are not going to unlock growth and build prosperity if the economy cannot sell goods and services to our trading partners”