{"id":89619,"date":"2025-05-10T08:37:08","date_gmt":"2025-05-10T08:37:08","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/89619\/"},"modified":"2025-05-10T08:37:08","modified_gmt":"2025-05-10T08:37:08","slug":"brexit-betrayal-as-bank-of-england-urges-uk-works-with-eu-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/89619\/","title":{"rendered":"Brexit betrayal as Bank of England urges UK works with EU | Personal Finance | Finance"},"content":{"rendered":"

The Governor of the Bank of England<\/a> has urged Britain to take decisive steps toward rebuilding its trade relationship with the European Union<\/a>, calling for renewed cooperation to repair the damage caused by post-Brexit<\/a> disruption.<\/p>\n

Speaking to the BBC<\/a> following a new trade agreement with the United States, Andrew Bailey stressed the economic benefits of improving UK-EU trade, saying that restoring ties would help ease pressures on both growth and inflation. Mr Bailey said: \u201cAs a public official, I don\u2019t take a view on Brexit<\/a>. But reversing the post-Brexit<\/a> hit to UK-EU trade would be beneficial. It would be beneficial to have a more open economy to trade with the European Union<\/a>. Because there has been a fall-off in goods trade with the EU over recent years.”<\/p>\n

The UK Government is currently engaged in talks with Brussels to reset its trade and security relationship with the bloc ahead of a summit later this month. Mr Bailey expressed hope that these negotiations could lay the groundwork for repairing the fractured trade partnership.<\/p>\n

He told the BBC<\/a>: \u201cIt is important we do everything we can to ensure that whatever decisions are taken on the Brexit<\/a> front do not damage the long-term trade position. So I hope that we can use this to start to rebuild that relationship.\u201d<\/p>\n

His comments come in the wake of a partial trade breakthrough with the United States<\/a>, which includes tariff relief on some British cars, steel, and aluminium.<\/p>\n

However, a 10% import duty remains on most UK goods, limiting the overall benefit of the deal.<\/p>\n

Mr Bailey suggested that the agreement with Washington could open the door for a more targeted veterinary pact with the EU – one that might align food and agricultural standards and reduce red tape on exports.<\/p>\n

He also pointed to the broader importance of trade deals in an increasingly fragmented global economy. He said: \u201cTrade deals are important. Trade can be done, and it is important.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The Governor of the Bank of England has urged Britain to take decisive steps toward rebuilding its trade…\n","protected":false},"author":2,"featured_media":89620,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5174],"tags":[25548,936,42553,5322,32,1700,2000,299,5187,1699,42551,2916,42550,42552,659],"class_list":{"0":"post-89619","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu","8":"tag-andrew-bailey","9":"tag-bank-of-england","10":"tag-brexit-latest","11":"tag-brexit-news","12":"tag-donald-trump","13":"tag-economy","14":"tag-eu","15":"tag-europe","16":"tag-european","17":"tag-european-union","18":"tag-post-brexit-economy","19":"tag-trade-deals","20":"tag-uk-eu-trade-relations","21":"tag-uk-us-trade-agreement","22":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114482633333579872","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/89619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=89619"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/89619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/89620"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=89619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=89619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=89619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}