Rishi Sunak takes a jab at France and Germany while praising the UK’s phenomenal progress.
Chancellor Rishi Sunak said today that BREXIT helped Britain recover from the coronavirus epidemic faster than other European countries.
The Chancellor said he was “glad to embrace Brexit” and praised the UK’s newfound freedoms while speaking at the Conservative Party Conference in Manchester. He predicted that Britain will prosper in the years ahead, and that the promise of a brighter future outside the EU was already being fulfilled.
“I believed that in a twenty-first-century global economy, the agility, flexibility, and freedom given by Brexit would be more valuable,” he asserted.
“I assure you that the future is here, even if you can’t see it yet.”
“The unemployment rate is less than 5% and dropping,” he remarked, pointing to the UK’s achievements.
“This is lower than France, the United States of America, Canada, Italy, and Spain.”
“And we now have one of the world’s fastest recovery rates of any major economy.”
“Last year, the UK alone received more venture capital investment in our firms than France and Germany combined,” he continued.
In the second quarter of this year, the UK economy increased by a record 5.5 percent.
As Britain recovered from the pandemic, the economy grew quicker than expected thanks to the lifting of lockdown restrictions.
According to the Organisation for Economic Co-operation and Development (OECD), the UK economy will grow by 6.7 percent in 2021, more than any other G7 country.
In comparison, the EU’s GDP is predicted to grow by 4.8 percent this year.
Last Thursday, Bank of England Governor Andrew Bailey predicted that the UK economy would recover to pre-pandemic output levels in early 2022.
Mr Sunak’s positive statement on the UK’s accomplishments came after he reaffirmed his determination to do “everything it takes” to assist the UK in navigating the unprecedented economic turbulence.
“At the start of this crisis, I made a pledge to do whatever it takes, and I’m ready to double down on that promise now as we come out of this crisis,” he said ahead of his speech to Tory members in Manchester.
“The first phase of our Plan for Jobs worked, protecting 11 million jobs through the furlough program, and today we are seeing one of the world’s strongest and fastest economic recoveries.”
“However, the task isn’t done yet, and I want to ensure that our economy is secure,” says Brinkwire Summary News.