07-11-2017, 11:23 PM
The Bank of England has issued a new Brexit warning. A reduction in trade with the European Union after leaving the bloc would be damaging to the U.K. by forcing it to refocus production away from its specializations, Deputy Governor Ben Broadbent said in a speech in Aberdeen, Scotland on Tuesday. It would also hurt EU growth, albeit on a much smaller scale, he said. “Trade really is mutually beneficial and less of it costs us all,” Broadbent said.
BOE’s Broadbent Sounds New Brexit Warning on Risks to Trade - Bloomberg
Whether you are in favour of hard Brexit, soft Brexit, clean Brexit or no Brexit, it should be clear that there is something fundamentally wrong with the economy. The same old problems keep surfacing: too small an industrial base; too much debt; too great a geographical divide between the rich south and the rest of the country; too many poorly paid low-productivity jobs.
The UK economy must take a long, hard look at itself | Business | The Guardian
In the 1970s, both left and right were agreed that the economy required fundamental changes. The Conservatives had Thatcherism, a blast of the free market designed to shake Britain out of what was seen as corporatist complacency; Labour had the Alternative Economic Strategy built around nationalisation, planning agreements between state and industry, and reflation behind tariff walls.
The UK economy must take a long, hard look at itself | Business | The Guardian