Carney: Chequers plan could result in £16B bounce for UK economy - report

Economy 9/14/2018, 8:34 PM
Carney: Chequers plan could result in £16B bounce for UK economy - report

Bank of England Governor Mark Carney said a Brexit deal based on the United Kingdom's Chequers agreement could result in a "£16 billion bounce" for the British economy, the Financial Times reported on Friday. According to sources, he predicted a good accord between the UK and the European Union would recover most of the output lost after the Brexit vote in 2016.

"Carney said that we would recover three-quarters of the growth lost after the 2016 referendum because Chequers would imply more access to the European market than under current assumptions," one source told the FT. Carney also warned of consequences in case London does not reach a deal with the union, stating that a no-deal Brexit could cause a financial crisis.

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