UK Economics

‘Nothing to fear’ Brexit Britain can walk away without EU deal warns Fox

LIAM Fox has said that Britain has “nothing to fear” from no deal with the EU after new figures revealed that the UK relies more on trade with the rest of the world.


The strength of the UK economy as it approaches Brexit was also highlighted in a World Bank report which showed that it is the seventh best place to do business even under EU rules.Britain was 13 places above its main EU rival Germany while the stagnant French economy was in a lowly 31st position.

According to the Office for National Statistics, Britain is doing better than ever selling services – including financial packages, pensions and insurance – to the rest of the world with an overall trade surplus of almost £21 billion with £38.5 billion in total exports in the second quarter of 2017.

The UK’s top market for services was the US which bought in £8.4 billion worth of services to the US from April to June far more than the £2.5 billion sold to Germany, the second largest market.

The UK services sector overall recorded a trade surplus of £101.1 billion last year with exports worth £262.3 billion.

Brexit Deal Liam FoxNC

The UK relies on trade with the rest of the world, so we mustn’t worry about and EU deal

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