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Britain will probably miss target of £1trn exports by 2020

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The Government will miss its target of exports worth £1trn of goods and services annually by 2020, unless Britain breaks all known growth records, the Business Secretary, Sajid Javid, has admitted.

In his 2012 Budget, Chancellor George Osborne set a target of doubling exports within eight years, but the British Chambers of Commerce has warned that the country will not reach this figure until 2034.