Now Bank of England sees the positive side of Brexit

AFTER quite literally years of scaremongering the Bank of England has admitted that not only will Britain’s financial system be untouched by Brexit but that even if we leave with no deal the core of the system will still be “robust”. The Bank of England deputy governor Ben Broadbent said exactly that in a radio interview, vindicating everything that this newspaper has also been saying for years.

With even the erstwhile prime minister David Cameron admitting that Brexit was not looking as bad as he feared, the impression is growing that the entire political establishment (with some honourable exceptions) was engaged in trying to pull the wool over the eyes of the British public. Project Fear was ramped up to the high heavens, dire warnings issued about what would happen if we reclaimed our independence – and now? It seems this doom-mongering had about as much basis in stability as a house of cards.

Ever since the British public took the momentous decision to leave the European Union the economy has gone from strength to strength. The outlook is bright: the Prime Minister’s recent successful visit to China was proof positive that countries all over the world are queueing up to do trade deals with us. And now the Bank of England, formerly no slouch in promoting Project Fear, has vouchsafed that our financial system is strong enough to withstand no deal. The future is bright and it is time to look ahead.