Ex-Gov­er­nor blasts ‘in­com­pe­tence’

Daily Mail - - News -

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.’

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