THE impact of Brexit on the economy has been “overly exaggerated”, insists former Chancellor Jeremy Hunt.
The Tory MP, who backed Remain in 2016, says the move has had “much less impact on exports to the EU” than previously thought.
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It comes as a think tank’s report hits out at the Office for Budget Responsibility watchdog.
It said their flawed models risked undermining UK trade policy at a critical time.
The report revealed UK vehicle exports fell by 28 per cent between 2019 and 2023.
But the actual value fell by just 2 per cent in real terms, the think tank said.
It also says that goods which were imported to the UK and then sent out again, known as “re-exports” accounted for a large discrepancy in the fall in outward trade.
The Remain-backer warned that those “who seek to relitigate Brexit are deeply mistaken”.
He said: “In this era of increasing geopolitical uncertainty, it is more important than ever that the UK keeps all of its allies close.
“Britain does not need to choose between the EU and the US on trade, but should seek to maintain positive and open relationships with both.”