BOE's Carney Says U.K. Not 'Fully-Ready' for No-Deal Brexit

The transcript discusses the importance of stability objectives and the preparedness of businesses and infrastructure in the context of Brexit. It highlights survey findings indicating that many UK businesses are not fully prepared for a no-deal Brexit, with a significant number of traders lacking experience in customs declarations. The text emphasizes the risk of key border projects not being completed on time and the necessity of securing an implementation period to minimize economic impacts. The implementation period should be long enough to prepare for new trading relationships but not longer than necessary.

What factors are crucial for the economy to adjust to new trade barriers?

• The size of the country's population

• The number of tourists visiting the country

• The level of preparedness of businesses and infrastructure

• The amount of foreign investment

What percentage of small businesses have initiated contingency plans for a no-deal Brexit?

• Less than 1/5

• Exactly 1/3

• About 3/4

• More than 1/2

How many traders have never completed a customs declaration?

• Up to 1/4 of a million

• Half a million

• One million

• Two million

What is at risk of not being delivered by March 29th, 2019?

• 11 of 12 major projects to replace key border systems

• The entire Brexit deal

• All major infrastructure projects

• New trade agreements

What is the purpose of the implementation period in the context of Brexit?

• To reduce the number of imports

• To increase the number of tourists

• To expand the UK's territory

• To minimize economic impacts and prepare for new trading relationships