Brexit Britain's growth DOUBLE expectations – Sunak proves the europhile economists wrong


The UK’s bounce back from the pandemic has defied expectations with growth levels not seen in more than 70 years. In March, the independent Office for Budget Responsibility (OBR) forecasted a four percent increase in GDP for 2021.

Britain’s bulging economy means the country has almost recovered its pre-pandemic levels.

The strong growth means the UK is the world’s fastest-growing advanced economy this year.

It comes despite analysts repeatedly warning Britain would be severely hit because of not just the pandemic but also Brexit.

Rishi Sunak is expected to confirm the OBR’s new growth forecast when he delivers his Budget in the Commons this afternoon.

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Speaking about his priorities, the Chancellor is expected to say: “Today’s Budget begins the work of preparing for a new economy post-Covid.

“An economy of higher wages, higher skills, and rising productivity.

“Of strong public services, vibrant communities and safer streets.

“An economy fit for a new age of optimism.

“That is the stronger economy of the future.”

Mr Sunak has proudly brandished his Brexit credentials.

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“I was proud to back Brexit. Proud to back Leave.

“And that’s because despite the challenges in the long term, I believed the agility flexibility and freedom provided by Brexit would be more valuable in a 21st century global economy than just proximity to a market.”

Many economists had painted a bleak picture for the UK’s recovery from the pandemic, suggesting it would take more than another 12 months to recover.

In May, the National Institute of Economic and Social Research said the UK’s Covid response and “remaining negative consequences of Brexit” would stump economic growth.

Meanwhile, the Resolution Foundation, in the same month, warned Brexit risked playing a part in the UK’s economy contracting in a similar way to Italy.

“A decade of underperformance would significantly harm living standards and could leave the UK falling behind other leading European economies,” the report said.

It said quitting the EU would have an “ultimately longer-lasting and more significant” impact than the pandemic.

The Chancellor will give the latest economic forecast at 12.30pm.



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