Today it has been revealed by the CBI that Britain’s factory sector has suffered its worst quarter since the financial crisis, as Brexit uncertainty hurts the sector.
This follows warnings earlier this morning that the pound is likely to weaken in 2020, as renewed Brexit uncertainty threatens to drag the economy into recession.
Liberal Democrat interim Leader Ed Davey said:
"Today’s news is evidence that Boris Johnson’s government looks set to crash our economy thanks to his disastrous Brexit plans.
"Whether its putting people’s livelihoods on the line in our factory sector, or increasing prices with the pound weakening in 2020, it is clear that Boris Johnson’s promise to unleash Britain’s potential is nothing more than empty rhetoric.
"We haven’t even left yet and the damage to communities right across the UK is already being felt, not to mention the no deal threats he is now trying to force into law.
"The Liberal Democrats will continue to oppose Brexit and hold the Conservative government to account for the damage they look set to unleash."
The CBI reported that the manufacturing output over the three months to December fell to -16 from -9 in November, its weakest reading since September 2009.
The British pound fell against the U.S. dollar and the Euro this morning following the reports that Boris Johnson was ruling out extending Britain’s transition period for leaving the EU.