NEWS… BUT NOT AS YOU KNOW IT
Brexit is one of the main reasons Britain has been sucked into a prolonged tide of inflation, according to the previous chief of the Bank of England.
Mark Carney, who oversaw the Bank during the referendum and repeatedly warned leaving the EU would damage the economy, said the ongoing onslaught of rising prices and stagnant wages is ‘what we said was going to happen’.
Mr Carney acknowledged that other countries face similar difficulties due to spiralling global energy prices and the aftereffects of Covid.
But the UK faces the ‘rare’ and ‘very difficult reality’ of having to sharply hike interest rates while on the cusp of its longest recession in 100 ydoears, he told BBC Radio 4’s Today Programme on Friday.