Brexit LIVE: Sorry, Macron! UK to outstrip EU rivals as new report issues Brussels warning

Boris Johnson: Brexit deal is ‘glad tidings of great joy’

Mr Macron is already under fire domestically after the unveiling of the trade deal between the UK and the EU over perceptions that the agreement discriminates against French fisherman, despite the French President’s pledges to the contrary. The report, by the Centre for Economics and Business Research (CEBR), suggested the British economy will receive a huge boost from the incoming coronavirus vaccine, with savings made during the pandemic likely to be ploughed back into the economy.

As a result, output, jobs and household income are all likely to bounce back.

In terms of economic performance, the UK is already one of the better performers in Europe, regardless of Brexit, the CEBR report says.

By 2035, the economy is forecast to be 23 per cent larger than that France, its neighbour and economic rival.

Douglas McWilliams, deputy chairman of the CEBR, said: “People often forget that the UK’s largest economic sector is digital and creative.

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“We have a huge competitive advantage in this tech-based sector which the pandemic has kicked forward.

“Most of this is pretty Brexit-proof provided the UK continues to attract talented people.

He added: “We think that when the vaccine rolls out, the world economy could bounce back quickly.

“My colleagues have calculated about £200billion of savings in the UK as a result of the pandemic that is waiting to be spent. There will be similar build-ups of savings elsewhere.

“We are more worried that a rapid bounce-back will lead to inflation, with shortages pushing up prices.”

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7.42am update: UK set to outpace France, says report

Emmanuel Macron has been dealt another blow by the publication of a new report suggesting the UK’s economy will outstrip that of France after it breaks free from the European Union.

Mr Macron is already under fire domestically after the unveiling of the trade deal between the UK and the EU over perceptions that the agreement discriminates against French fisherman, despite the French President’s pledges to the contrary.

The report, by the Centre for Economics and Business Research (CEBR), suggested the British economy will receive a huge boost from the incoming coronavirus vaccine, with savings made during the pandemic likely to be ploughed back into the economy.

As a result, output, jobs and household income are all likely to bounce back.

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