Doughty – Fall in the pound has not boosted exports

Britain’s trade deficit has increased in the three months to August, new figures from the Office for National Statistics show today. This is despite the fall in the value of the pound since the referendum.

 

Commenting, Stephen Doughty MP, leading supporter of Open Britain, said:

“This is more alarming news for British exporters and for the wider economy.

“We were repeatedly told that crashing the pound would result in a major boost for British exports. But 15 months on we are still waiting, as Britain’s trade deficit with the rest of the world continues to widen.

“These figures only serve to underline how reckless it is for the Government to be wrenching the UK out of the Single Market, our largest export market right on our doorstep, in pursuit of fantasy trade deals on the other side of the world.”

/ends