Sam Woods, chief executive of the Prudential Regulation Authority (PRA), has warned that the Bank of England (BoE) doesn’t have the resources to handle the consequences of Brexit.
Sir Dave Ramsden, a senior civil servant, who has been at the Treasury for 29 years, was appointed the Bank of England’s deputy governor on Thursday.
UK government borrowing rose to £6.9bn last month after the country was forced to pay higher interest on its debt.
Liam Fox, the UK’s international trade secretary, has said the UK could “survive” without a post-Brexit free trade deal with the European Union (EU).
The UK should stay in the single market and customs union during the Brexit transition period after 2019, the Confederation of British Industry (CBI) said on Thursday.
Prior to the Brexit vote last June, it was predicted that a vote to leave the European Union (EU) would cause a major recession and plunge the UK into an economic downturn.
After cancelling the event last week in the wake of the Grenfell Tower disaster, Bank of England (BoE) governor Mark Carney and the UK chancellor Philip Hammond discussed Brexit and interest rates at Mansion House earlier today.
British chancellor Philip Hammond said this morning fintech is part of the so-called “fourth industrial revolution” at the Treasury’s first International Fintech conference in London.
The UK chancellor Philip Hammond announced his first, and last, spring budget today.
Cuts to public service spending are set to accelerate over the next few years as the UK government attempts to combat the budget deficit, according to the Institute of Fiscal Studies (IFS).