Brexit: While the Tories are in charge, this guy’s on a hiding to nothing

Sam Woods, a deputy governor at the Bank of England, said City firms would become more complicated as a result of the restructuring Brexit would force them to undertake [Image: Jonathan Brady/PA].

A top official at the Bank of England has warned the government it has less than 12 weeks to agree a transition deal with the EU to prevent City firms starting to move jobs and business out of the UK.

Sam Woods, a deputy governor at the Bank, said City firms would activate their Brexit contingency plans if there was no deal on a transition period by Christmas which would mitigate the impact of a hard Brexit in March 2019. Woods also repeated his warning of the strain being put on the Bank’s ability to police the financial sector as a result of the changes firms needed to make.

In an annual speech to an audience of financiers at London’s Mansion House, Woods said City firms would become more complicated as a result of the restructuring they would need to undertake.

Source: EU transition deal is needed quickly to stop City firms leaving UK, says Bank official | Politics | The Guardian


Vox Political needs your help!
If you want to support this site
(
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at https://www.facebook.com/VoxPolitical/

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at http://voxpoliticalonline.com

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.


The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:

SWAHTprint SWAHTeBook

2 thoughts on “Brexit: While the Tories are in charge, this guy’s on a hiding to nothing

  1. Barry Davies

    Another pro eu comment from the B of E, and just what is this so called Hard brexit, oh yes it is what we voted for not the so called nice fluffy soft brexit where we are still in the eu in all but name.

  2. NMac

    Tories aren’t worried about the catastrophic effects on the country as a whole, it’s all about their internal squabbles and leadership struggles. At least May has now, in a dramatic and hilarious gesture, been given her P45 – …so what happens next?

Comments are closed.