Bank of England warns investment will suffer under no-deal Brexit

Ben Broadbent says projects postponed amid political uncertainty will be cancelled

Businesses would be likely to cancel their investment projects in Britain under a no-deal Brexit, paving the way for weaker economic growth in future, a deputy governor of the Bank of England has warned.

Ben Broadbent, a senior policymaker at Threadneedle Street as the deputy governor for monetary policy, said that business investment plans that had been put on ice amid the political uncertainty over Brexit would probably be torn up altogether should the UK leave without a deal.