Britain must rebuild a closer trading relationship with the European Union, the governor of the Bank of England has said, warning that Brexit has damaged goods exports to the Continent.
In a speech to leading figures in the City of London, Andrew Bailey said that while it was not the job of the Bank to take a “position” on Brexit, it was his job to “point out consequences”.
His comments go much further than his previous public statement on the vote to leave the EU and will be welcomed by Downing Street, which has made negotiating a closer trading relationship a priority of the new government. In particular, Sir Keir Starmer wants to use a review of the existing post-Brexit trade deal to reduce