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

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.