The Carney burden

SIR – Mark Carney, the Governor of the Bank of England, seems to think that there would be a “booming economy” if it were not for businesses concern about Brexit (report, November 6).

A report in your Business section (November 6) says that, despite caution about the outcome of Brexit negotiations, a survey from the Institute of Chartered Accountants shows that “profits and exports are growing at the fastest pace since 2015” and “capital investment is at a twoyear high. Employment intentions are robust and development spending is also on the up”.

One of the main factors affecting business confidence is the relentless negativity displayed by Mr Carney ever since he involved himself in “Project Fear” before the referendum.

Perhaps Mr Carney should address himself to the problems for businesses caused by the Bank’s actions, such as persistently inaccurate economic forecasting and the Funding for Lending Scheme, meant to provide for loans to businesses but used to prop up the housing market.

The planet that Mr Carney inhabits is very much a political one.

Sheffield, South Yorkshire