Data indicates a 27% drop in exports and a 32% decrease in imports from the EU between 2021 and 2023. Andrew Bailey, Governor of the Bank of England, has dared to state what no British politician seems willing to say: "Brexit has weighed on the British economy.

The UK must "rebuild relations" with the EU "while respecting the decision of the British people" who voted to leave in 2016, the Bank of England's governor has said. Andrew Bailey's Mansion House speech to investors marked some of his strongest comments yet on Brexit, saying one of its consequences has been weaker trade.

Bailey says open trade vital to boost weak investment Brexit contributed to weakening of UK trade ... Britain should stand up for free trade and rebuild ties with the European Union as the global economy fragments, Bank of England Governor Andrew Bailey ...

Sir Keir Stamer has vowed a reset with the EU, but he is under pressure to explain what that could look like. And now Andrew Bailey has suggested closer ties would make economic sense.

The Bank of England governor said the UK needs to “welcome opportunities to rebuild relations” following Brexit, as he backs the Chancellor’s plans to boost business investment and growth.

The Bank of England Governor's remarks are in contrast with those of Reform UK's Nigel Farage, who sees Donald Trump's White House win as a chance to cement transatlantic trade links.

A shift in trade patterns with Europe has weighed on the UK economy, Governor Andrew Bailey said. View on euronews