Leaving ‘unsuccessful’ EU will give UK ‘real opportunities’, former Bank of England Governor

Leaving ‘unsuccessful’ EU will give UK ‘real opportunities’, ex Bank of England Governor

BREXIT presents “real opportunities” for the UK to secure new trade deals and strengthen the economy, the former governor of the Bank of England Lord King had claimed.

ZOE EFSTATHIOU

Lord King hit out at Remoaners and insisted Britain should be “self confident” about its prospects upon leaving the crumbling bloc.

In an interview on Radio 4’s Today programme, Lord King, who headed up the Bank of England three years ago, presented an optimistic outlook for the UK’s independent future.

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Lord King has presented an optimistic outlook for Britain’s economy outside the EU

He said: “I think the challenges we face mean it’s not a bed of roses, no one should pretend that, but equally it is not the end of the world and there are some real opportunities that arise from the fact of Brexit we might take.

“Being out of what is a pretty unsuccessful European Union – particularly in the economic sense – gives us opportunities as well as obviously great political difficulties.”

SEE VIDEO HERE

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Lord King added: ”There are many opportunities and I think we should look at it in a much more self-confident way than either side is approaching it at present.”

In particular, Lord King highlighted the opportunities leaving the EU presents in terms of signing trade deals with non-EU countries.

But he warned that “question marks” over England’s future connections to the single market are holding back its ability to negotiate new trade agreements.

Lord King said: “I don’t think it makes sense for us to pretend we should remain in the single market and I think there are real question marks about whether it makes sense to remain in the customs union.

“Clearly if we do that we cannot make our own trade deals with other countries.”

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