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22 July 2019

Bloomberg: BOE’s Haldane says Brexit undermining work to boost UK economy

Brexit is undermining efforts to boost the UK economy by holding back the government from implementing its industrial strategy, according to Bank of England Chief Economist Andy Haldane.

Speaking to the BBC’s ‘Newsnight’ in his capacity as chairman of the Industrial Strategy Council, Haldane said it is “plausible” that one of the “costs of Brexit is that not as much other stuff has happened as might.” Even so, he said that missing a year of progress is less important than sticking with the project.

Haldane said that the Brexit scenarios published by the BOE last year still offer the “best guess” at the potential economic impact of a no-deal departure on Oct. 31. He said that the degree of uncertainty surrounding the U.K.’s divorce from the bloc means that “people can reasonably disagree on the future course of the economy and what’s right and what’s not.” [...]

Full article on Bloomberg

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