Lord Mervyn King labels Brexit preparations ‘incompetent’
Former Bank of England governor Lord Mervyn King has condemned the government’s Brexit preparations, claiming they leave the UK in a weak negotiating position.
Calling plans to stockpile food and medicine in the event of a hard Brexit “incompetent”, the Brexit voter told the BBC that “a government that cannot take action to prevent some of these catastrophic outcomes illustrates a whole lack of preparation".
The government says it is seeking a deal with the EU “of unprecedented scope and ambition”.
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Lord King denounced the government’s preparations for a no-deal scenario, saying Brexit secretary Dominic Raab’s pledge to ensure there are “adequate food supplies” undermines his negotiations with the EU.
"We haven't had a credible bargaining position, because we hadn't put in place measures where we could say to our colleagues in Europe, 'Look, we'd like a free-trade deal, we think that you would probably like one too, but if we can't agree, don't be under any misapprehension, we have put in place the measures that would enable us to leave without one’,” he told the BBC.
He warned of the danger of having a so-called Brexit in name only, in which the UK stays in the Single Market or the customs union, or both.
The Department for Exiting the European Union (DExEU) said it has made “significant progress” in its negotiations over the UK’s exit.
"The vast majority of the Withdrawal Agreement has now been agreed, and we are making further progress on the outstanding separation issues".
Raab told parliament yesterday that he had made “significant progress” in negotiations, and City PM understands that some member states are willing to fudge an agreement over an Irish border backstop in order to push through an agreement.
However, Prime Minister Theresa May’s Chequers plan, which would keep the UK aligned with has come under heavy scrutiny from Brexiteers who would seek to offer an alternative plan.
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Today City PM revealed that former Brexit secretary David Davis is ready to back an alternative that argues for a Canada-style trade deal.
A DExEU spokesperson said: "Getting a good deal is, by far, the most likely outcome. We have reached an agreement on citizens rights, so that 3.5m EU citizens living in the UK and the one million Brits living in the EU have their rights assured, and can carry on living as they do now.
"And we have also agreed the terms of an implementation period, to give businesses the clarity and a sensible lead time to adjust to the changes that Brexit will bring, while making sure people can feel confident that there is some finality to the whole process of leaving the EU.”