Lizzy Burden
3,786 posts
Lizzy Burden
@lizzzburden
London, UK
Joined November 2016
- “Without Brexit, we wouldn’t be talking about austerity this week,” Michael Saunders tells me in his first on-air interview since leaving the Bank of England’s monetary policy committee. Says it’s not just the City of London but the whole UK economy that’s been damaged by BrexitThe UK economy has been ‘permanently damaged by Brexit’, says former BOE policymaker Michael Saunders in an exclusive interview with @lizzzburden trib.al/sUs3Ygt
00:00 - Just had a worrying conversation with UK Trade Secretary Kemi Badenoch. I asked whether, given the @OBR_UK's forecast on the impact of Brexit, to grow the economy the government needs to negotiate closer ties with the EU. She said the OBR’s forecasts were never “quite right”.
- Small UK businesses are drowning in post-Brexit red tape to trade with the EU. "There's so much complexity," @BccAdam says. "It's like an onion. The more you peel, the more you cry"🧅 With @lucy_meakin, @DeirdreHipwell, @Joe_Mayes & @_DavidGoodman 👇
- Replying to @lizzzburdenIt's worrying because the lack of an OBR forecast alongside the September mini-budget, and criticism of the fiscal watchdog by then ministers like Jacob Rees-Mogg, were a huge factor in the market turmoil around Trussonomics. And we have another budget coming on November 17...
- Replying to @lizzzburdenAt the time, former BOE governor Mark Carney said ministers were undermining the credibility of UK economic institutions – the OBR, the Bank of England and the Treasury. Now, Rishi Sunak and Jeremy Hunt are relying on an OBR forecast to give markets faith in their fiscal plans.
- Replying to @lizzzburdenBailey clearly uncomfortable talking about Brexit but Swati Dhingra pulls no punches. “It’s undeniable now that we’re seeing a bigger slowdown in trade in the UK than in the rest of the world. That’s showing up despite the statistics being much worse than they used to be.”
00:00 - Replying to @lizzzburdenIs Kemi Badenoch telling us the OBR's sums can't be trusted? "The OBR has a view, we have a view," she says. Listen to that full @BloombergRadio interview here, produced by @James_Woolcock, with a write-up via @EllenAMilligan (we also talk trade 🇺🇸🇮🇳):
- Leaked @michaelgove letter warns 70% of EU-bound trucks might not be ready for new post-Brexit border controls by January, meaning 7,000 lorries could face 2-day delays in Kent - worse if winter Covid spike means border staff off sick @Telegraph story 👇
- Replying to @lizzzburdenTreasury Select Committee's @rushanaraali asks Bank of England governor Andrew Bailey whether he agrees with Michael Saunders that without Brexit, there probably wouldn’t be an austerity budget. Have we self-harmed? "Yes, there is an effect. We've not been surprised by that."
00:00 - Without a Brexit trade deal, three-quarters of hauliers will automatically lose the right to take goods to and from the Continent, the freight industry warns @Telegraph story 👇🏽 (Register to read for free) Thanks to @LogisticsUKNews
- A month into Brexit, firms are being slowly ground down. Just teething problems?🤔 "Bureaucracy is the new reality and there’s more to come," says @SamuelMarcLowe Hidden under Covid, the effects seeped into all parts of the economy... @business 👇
- Replying to @lizzzburdenUK Trade Secretary Kemi Badenoch's comments on the OBR not going down well this morning. Here's RBC Capital Markets (@rbccm) David Parkinson's morning note, titled 'Badenoch face-palm':
- Replying to @lizzzburdenHere's a snippet of that interview with Kemi Badenoch:Trade Secretary Kemi Badenoch questions the accuracy of economic forecasts produced by the OBR, the UK’s independent fiscal watchdog 🎧 Listen to her full interview with @lizzzburden: bloom.bg/3FCIhKE
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