Post-Brexit trade plan must be replaced, says think tank

The Resolution Foundation think tank has called for the government to replace the initial post-Brexit trade plan with a ‘far more ambitious’ strategy to help protect Britain’s manufacturing firms and seek new markets for UK services firms.

A report published by the Foundation found that the UK’s initial post-Brexit trade plan to secure Free Trade Agreements (FTAs) with other countries had ‘been largely successful’.

However, it suggested that this approach has ‘run out of road’ as FTAs with the US and China ‘are not on the horizon’. According to the think tank, Britain’s high value manufacturing sector is ‘particularly vulnerable’ following the UK’s exit from the EU as it often relies on being part of European supply chains.

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Source: ResolutionFoundation