
Britain’s trade deficit will be a useful Brexit bargaining chip
Britain’s trade deficit – the difference between what we import and export – widened in the run-up to Brexit. Figures out today show that we imported £5.1bn more goods than we exported to the rest of the world. That gap widened by nearly £1bn between May and June, according to the ONS, in a picture which the Guardian have said is pretty ‘ugly’. But there is a flip side. Firstly, these figures don’t reflect anything about the referendum – they were compiled in the build-up to the June vote, so they tell us little about the impact of Brexit. Secondly, it’s worth mentioning that whilst the deficit has, indeed, got bigger,
