'Brexit has made the UK economy weaker'

RACHEL Reeves has said Brexit made the UK's economy and productivity “weaker” than initially forecast when the UK voted to leave the European Union.

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But the Chancellor expressed determination that “the past doesn’t define our future” as she set out plans to scrap paperwork and red tape for thousands of UK businesses in a bid to boost lacklustre economic growth at the Regional Investment Summit in Birmingham yesterday.

The gathering of business leaders and investors came after more gloomy news for the Chancellor as government borrowing in September hit the highest level for the month in five years.