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 is the significance of securing an implementation period for the UK economy?

How long should the implementation period be to prepare for new trading relationships?