British Business

Stripped of our preferential markets, easy options and most profitable industries we are going to be exposed, naked, alone and looking a little bit shriveled. The world markets may be there, but do we have the ability to exploit them? And what precisely are we hoping to sell to the world? Over 70% of our GDP is services – we don’t really make very much. Our annual spend on RD is 1.7% of GDP – almost half of the German figure and below France, too. My fear, as a businessman, is that we will not know what to do in the free trade wonderland (other than feast on more imports) we are so eager to create. And with the possibility of losing a fair chunk of our high-productivity EU labour, anything we do sell could be more expensive than it once was, too.

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