Carney Tells Media That Brexit May Cost £900 To Each British Household

The Bank of England governor Mark Carney recently told the media that the decision of Brexit would cost each British household a burden of £900 He stated that the citizens of the country would become much poorer than before after the Brexit votes According to him the income has already become very low and it will aggravate further if England takes the decision of severing ties with the European Union. According to Carney, the British households were going to lose more than £900 after the vote to leave the EU, The Bank of England governor was delivering the speech in front of the seniors of the government. He made a comparison of the present financial condition of the Brtish people with that of the past. While comparing the financial condition of the British people he copied that in the recent times the per capita income had become much lower than the previous years. Carney also said the economy had become 2% smaller than which was forecast before the EU referendum. The global economy witnessed a positive change in recent times but the British people could not get the benefit and he said that he believed that Brexit would aggravate the condition further. In his opinion, there was “a significant difference” to forecasts for the economy made in May 2016, with that of the present situation. The opposition leaders opposed the governor’s comments and criticized him for his reckless comments Jacob Rees-Mogg told the media was talking like a fool. However, Boris Johnson, the Finance Minister, however, supported him and while talking to the media while on a visit to Argentina, insisted Brexit had not damaged the interests of the country.

Vince Cable, the Liberal Democratic leader, was of the opinion that Brexit would affect the everyday lives of common people of England. Tim Roache, the general secretary of the GMB said that “Brexit might not affect Tory cabinet ministers but for many people, it meant a lot. Carney later admitted that it was improper to say with certainty that Brexit was the only reason for lower household incomes, According to the economist’s consumers have come under significant financial pressure from rising inflation since the Brexit vote. A sharp decline in the value of the pound has increased the cost of importing food and fuel to Britain. At the same time wage growth became very less despite the lowest levels of unemployment since the mid-70s. But the situation is slowly coming to a normal position. Carney claimed that the British people had nothing to worry but the opposition leader said that they were not going to buy his story.

by TNBC Staff Reporter on May 28, 2018

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