Britain powers on

POlitiCAl crises come and go, prime ministers fall and rise, but through it all the British economy keeps marching on.

Far from Brexit sending us into the slump so many Jeremiahs predicted, latest figures suggest we will be the fastest growing large economy in europe over the next two years.

the UK jobs miracle continues, with employment surging to another record high, and unemployment hitting a 45-year low.

Wage growth is almost twice the rate of inflation. the housing market has roared back into life with year-on-year growth of nearly 7 per cent.

And, as we reported yesterday, more than 1,000 european financial companies are opening offices in london, to ensure smooth operations post-Brexit.

so much for the feared ‘Brexodus’ of foreign businesses from these shores.

there are caveats, of course. Productivity remains stubbornly low and investment has not yet recovered from the uncertainty around Brexit.

British business is said to be holding an astonishing £750billion in cash reserves.

But with eU withdrawal imminent and hopes buoyant for a mutually beneficial free-trade agreement, that money may now be unlocked.

Chancellor sajid Javid can energise that process with a business-friendly budget. tax incentives for research and development, new infrastructure schemes and more support for our burgeoning hightech sector would all help. As we leave the eU next week, the Government must ensure British industry is fully equipped for the challenges ahead.