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Britain’s Recovery Hobbled by Departure From EU: Beyond Brexit

Rishi Sunak leaves Downing Street to deliver his spring statement.

Rishi Sunak leaves Downing Street to deliver his spring statement.

Photographer: Hollie Adams/Bloomberg

What’s happening? The U.K.’s official fiscal watchdog says leaving the European Union held back trade and the recovery from Covid-19, and Boris Johnson compares Ukraine’s fight for freedom to Brexit.

Brexit has left Britain a “less trade intensive economy” because the nation has “missed out on much of the recovery in global trade,” according to the Office for Budget Responsibility. The government’s independent analyst was reporting on the state of the economy for Chancellor of the Exchequer Rishi Sunak’s Spring statement to Parliament. Its sums indicate that trade as a share of gross domestic product has fallen 12% since 2019. That’s a drop 2.5 times bigger than any other Group of Seven country.