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11 October 2018

UK Treasury Committee sets out expectations for Bank of England and FCA’s Brexit analysis

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The Chair of the Treasury Committee wrote to the Governor of the Bank of England, Chief Executive Officer of the FCA and the Chancellor of the Exchequer, asking them to produce and publish an analysis of the impact of the Brexit Withdrawal Agreement and future framework, once it has been negotiated.

The Committee asked the three organisations to publish their analyses in good time before Parliament comes to vote on the Brexit deal. Mrs Morgan has today written to the Bank and FCA to further clarify the Committee’s expectations about the timing and content of this work.

The Committee has appointed Professor Sir Stephen Nickell, former member of the Office for Budget Responsibility’s Budget Responsibility Committee, as a specialist advisor to work on its Brexit inquiry, and specifically to advise on the economic impact of the Withdrawal Agreement. Mrs Morgan has written to the Chancellor to request that Treasury officials will be allowed to engage with Professor Nickell as part of his work.

Mrs Morgan has also asked Mark Carney, Governor of the Bank of England, to provide public clarity on the briefing he gave to Cabinet on 13 September, which was reported as containing a forecast that house prices would fall by a third in a ‘no deal’ scenario. [...]

Correspondence from the Chair to the Chancellor of the Exchequer on the Brexit Withdrawal Agreement and future framework

Correspondence from the Chair to Mark Carney on the Brexit Withdrawal Agreement

Correspondence from the Chair to Andrew Bailey on the Brexit Withdrawal Agreement

© House of Commons

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