RBS fears a recession

THE boss of bailed-out RBS has warned that a ‘bad Brexit’ could trigger a recession.

Chief executive Ross McEwan said the bank is reining in some lending to protect it from a possible downturn.

It came as Nissan joined the chorus of car-makers warning of disruption. Mr McEwan said: ‘We are assuming 1 to 1.5 per cent growth for next year, but if we get a bad Brexit then that could be zero or negative.’

Nissan, who employ nearly 7,000 in Sunderland, said: ‘We are among those companies with major investments in the UK who are still waiting for clarity on what the future trading relationship between the UK and the EU will look like.’