ESRI Report: UK falling behind EU in post-pandemic trade recovery

Responding to an ESRI report published today, citing that UK-EU exports are down 16% and imports to the UK from the EU are down 20% compared to anticipated levels of trade growth for EU members since the start of 2021, Virgin Group chair and Co-Convenor of the UK Trade and Business Commission Peter Norris said,

“An inevitable consequence of Brexit has been to saddle businesses with new red tape, duties, and longer customs checks. This has dampened the UK’s economic recovery from the pandemic and driven a widening wedge between British businesses and our partners in Europe.

“With our economy entering recession, recovering lost trade with Europe should be a top priority. The Government can do this by removing the barriers to trade which Brexit created.”