https://www.ft.com/content/34fcfce0-ecc9-11e8-8180-9cf212677a57
There were signs that Mrs May’s approach had driven a wedge into the Eurosceptic camp.
Mr Duncan Smith was infuriated by suggestions by some pro-Brexit colleagues he was working constructively with the prime minister in order to gain a peerage.
< who me ? 😇 >
...
Separately, Mark Carney, Bank of England governor, backed Mrs May’s draft Brexit deal on Tuesday,
telling MPs that it would “support investment” and would increase certainty for business.
He said the guaranteed transition period up to the end of 2020 gave greater clarity for companies to invest and spend.
He also welcomed the possibility to extend the transition if no permanent UK-EU trade deal has been agreed by the initial expiry date.
Mr Carney emphasised that leaving the EU without a deal and with no transition would leave many companies and workers “stranded” so that capital and their skills were unable to be used.^
This would represent a “negative supply shock” of a scale not seen for many decades.^^
While the financial crisis 10 years ago was mostly a sudden reduction in demand owing to fears that banks were about to go out of business,
for negative supply shock such as a no deal Brexit, “you would have to stretch back at least in our analysis until the 1970s to find analogies”