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Lord Bilimoria (CB): My Lords, Britain has less than 1% of the world’s population and represents just 4% of the world’s GDP, and yet it makes up 7% of the world’s welfare spending.
A huge increase in exports is needed to get British manufacturing back on its feet and move the economy away from a dangerous over-reliance on service industries, a detailed new report from the independent think tank ResPublica has found.
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