Lord Mervyn King warns of long-term economic impact of Brexit uncertainty
In a new twist to the Brexit drama, the former Governor of the Bank of England, Lord Mervyn King, has waded into the debate by expressing concern about the state of the British economy.
In an interview with Sky News, Lord King said that because of Britain’s “fixation” with Brexit, the economy is suffering.
Talking to Sky News on the fringes of the International Monetary Fund’s annual meeting in Washington DC, the former Bank of England Governor said that only a “new election” and “new parliament” can resolve the [Brexit] “crisis”.
Reacting to Prime Minister Boris Johnson’s new proposed Brexit deal, Lord King said: “It’s frustrating parliament can’t make up its mind and hasn’t been able to vote but let’s hope they do. I think most people think that this [Brexit drama] has gone on for far too long and just have the view: just do it”.
Meanwhile, Michael Gove, the Chancellor of the Duchy of Lancaster, has warned of a heightened risk of a no-deal Brexit following the government’s defeat in the House of Commons yesterday.
Gove, who is the lead planner for a no-deal Brexit, told Sky News’ Sophy Ridge on Sunday that following yesterday’s setback the government will now trigger “Operation Yellowhammer” (the contingency plan to manage a no-deal Brexit) because of uncertainty over the European Union’s willingness to grant a three-month Brexit extension.
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