UK government, Bank of England to spell out no-deal Brexit risks for economy
Updated : November 28, 2018 07:44 AM IST
Barely four months before Britain is due to leave the European Union, May has failed to get much of her own Conservative Party behind the agreement sealed with EU leaders on Sunday, leaving open the possibility of a no-deal Brexit.
BoE governor Mark Carney and finance minister Philip Hammond have both previously stressed the importance of a transition period, as included in May's plan, to ease Britain out of its four-decade membership of the EU.
Many voters ignored government warnings of a dire outcome for the economy when they decided to leave the EU in the 2016 referendum and it is not clear that lawmakers will be swayed by forecasts about the effects of a no-deal Brexit.