Interview with Andrew Bailey, Governor of the Bank of England, on Q.E.

The video discusses the economic risks posed by Brexit, focusing on assumptions and guidance from the government. It covers the expected trade agreement and the necessary adjustments for the UK leaving the customs union and single market. The readiness of firms is analyzed, with larger firms being more prepared than smaller ones. The video also highlights the asymmetry in the adjustment process between the UK and the EU, emphasizing the potential benefits of a cooperative approach.

What is the primary assumption being made about Brexit in terms of trade agreements?

• There will be no trade agreement.

• A trade agreement will be reached as per government guidance.

• The UK will remain in the customs union.

• The EU will dictate the terms of the agreement.

What is expected to happen in the first two quarters of next year regarding the UK's economy?

• There will be no economic changes.

• The adjustment process for leaving the customs union will take place.

• The UK will rejoin the EU.

• The UK will adopt a new currency.

What percentage of firms believe they are ready for Brexit?

• 60%

• 70%

• 50%

• 80%

How does the UK plan to handle new procedures and regulations post-Brexit?

• Ignore them completely.

• Adopt EU regulations without changes.

• Delay them until next summer to smooth the adjustment process.

• Implement them immediately.

What could be a potential benefit if both the UK and EU cooperate on the adjustment process?

• A return to pre-Brexit conditions.

• Complete economic independence.

• A smoother adjustment process.

• Increased tariffs on goods.