BBC News

The report by Andy Verity following Mrs May’s speech included several serious omissions and factual errors. First was his assessment of the EU single market – 49% of our exports, wrong – in 1999 the EU share of Britain’s exports was 61%, in 2015/16 it was 40%, including an allowance for the Rotterdam factor, it is still declining and provides a huge trading deficit. Exports outside the EU make a profit and offer significant scope for further growth – 88% of the world economy is outside the EU. When he analysed the effect of the drop in the pound, he only referred to inflation, no mention of the fact that it was overvalued or the positive impact on exports and no mention of the impact on the FTSE share prices.

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