Ex-Governor blasts ‘incompetence’
A FORMER Bank of England governor has branded preparations for Brexit as ‘incompetent’.
Mervyn King said yesterday the Government had been left without a credible bargaining position, and it ‘beggars belief’ that Britain, one of the world’s leading economies, had found itself in a situation where the country was being told to take a course of action or face catastrophe.
He said the blame should be shared by the Government, Parliament and those in Whitehall making key decisions. Lord King, who was in charge of the central bank from 2003 until 2013 and has spoken favourably of Brexit in the past, tore into the last-minute preparations for a no-deal Brexit, warning they had left Britain without a credible bargaining position.
‘Frankly, if a government cannot take action to prevent some of these catastrophic outcomes, whatever position you take on the EU, it illustrates a whole lack of preparation. It doesn’t tell us anything about whether the policy of staying in the EU is good or bad – it tells us everything about the incompetence of the preparation for it.’