Bank of England Expert: The Real Cost Of Not Making Deal With EU

28 March 2017, 18:17

Ian McCafferty: Any EU-UK Deal Better Than No Deal

This Bank of England economics expert says the true cost of not making a deal with the EU could be serious disruption to the UK economy for years.

01:06

This Bank of England economics expert says the true cost of not making a deal with the EU could be serious disruption to the UK economy for years.

Ian McCafferty, Member of the Bank of England's Monetary Policy Committee, was taking your calls on LBC with Iain Dale. When asked what would happen if either the EU or UK quit talks in a huff, McCafferty predicted "years" of disruption.

"I'd be very surprised if we could find no deal that was worse than a deal.

"There is so much of our national life, all the way through from our agricultural policy, through fishing, through consumer protection, all sorts of thing that is linked to EU bodies, EU institutions, as well as EU law.

"I think we would find quite a lot of disruption to the UK economy which would probably bring us into a period of a couple of years in which the economy would perform really quite badly."

"It's a hugely complicated divorce," said McCafferty. "Talking it through rationally...would be better."

Nick Ferrari Diane Abbott

The Car-Crash Interview Everyone's Talking About: Diane Abbott On Police Funding

Police James O'Brien

The Woman "Left On Hold" Trying To Report Manchester Terror Information

Nigel Farage Donald Trump

Nigel Farage Backs Trump “100 Per Cent” Over Nato Spending Demands

O'Brien O'Reilly May

The Police Officer Who Told Theresa May What Cuts Would Lead To

Comments

Loading...