Sunday 27 December 2020 12:08 pm

Excusez-moi: UK set to surge past French economy in decade to come

The UK’s economy is set to remain the fifth largest in the world, according to a respected annual report, and to surge ahead of cross-channel rivals despite Brexit.

The Centre for Economics and Business Research’s annual tally of the world’s leading economies sees the UK retake fifth place from India.

Read more: Brexit deal lays groundwork for future negotiations on financial services

And by 2035, the researchers assess, Britain’s economy will be some 23 per cent larger than France.

Douglas McWilliams, Deputy Chair of the CEBR, pointed to the UK’s strengths in digital and creative services as evidence of the country’s future-proofed economic strength.

“We have a huge competitive advantage in this tech0based sector which the pandemic has kicked forward. Most of this is pretty Brexit-proof provided the UK continues to attract talented people,” he said.

The Brexit deal signed last week by Prime Minister Boris Johnson will allow the UK more flexibility on immigration rules, though free movement will end.

Advocates point to the advantages of a system which will allow the best and brightest to come here, though critics question the impact of preventing free market on the wider economy and on our global standing.

The report also sees the US kicked off top spot by China towards the end of this decade.

Share
Tags: