Secret Bank of England plans for a Brexit have been revealed after a top official from the Bank of England sent a highly confidential email to the Guardian editor ‘by accident’. The ‘inadvertent error’ was described by a Bank of England spokesperson as ‘unfortunate. A referendum about Britain’s EU membership (European Union), was one of David Cameron’s campaign promises. Some politicians claim that he may be considering a national referendum on the subject earlier. The BoE would like to see the economic and financial impact of Brexit. The Guardian reports that the email indicates that the BoE has arranged for a select group of high-ranking experts to study the potential economic consequences of the UK leaving the EU. Sir Jon Cunliffe, Deputy Director for Financial Stability, will lead the study. Email instructs BoE staff how to answer questions. The email tells BoE officials that Project Bookend covers many European economic issues and not to mention the impending referendum. According to The Guardian, the email was sent from Sir Jon’s private secretary on 21 May and 2015.. The taskforce also includes James Talbot who is the head of the central bank’s Assessments and Strategy Division. The Guardian has provided a quote from an email: Jon’s proposal that James Talbot ask me to emphasize to you is that James does not send emails to James’s staff or to the wider Bank community about this project. James can inform his team that he’s working on a project that will take place in a few months on European economics. It will cover a wide range of European economic problems. He would then hopefully say no more.” This email suggests that taskforce members should be asked if the project will cover the referendum. They should reply that they are not aware of any confidential Bank information. “Today’s email to an outside party contained details of planned Bank work regarding the possible implications of a referendum and renegotiation of the UK’s membership in the European Union. The context of the referendum and renegotiation raises a variety of financial and economic issues. The Bank has a responsibility to evaluate those which relate to its objectives. “It’s not sensible to discuss this work publicly in advance. As with previous work, however, we will reveal the details of such work when appropriate.” The Bank urges businesses to raise volume about EU debate. This week, the Confederation of British Industry, which represents 190,000 companies, made it clear that they want the UK to stay in the EU. Sir Mike Rake (CBI President) told more than one ,000 audience, including journalists, politicians, and business leaders that reforms are possible in the EU. At the 2015 Annual Dinner, Chancellor George Osborne joined him as keynote speaker. Sir Mike encouraged businesses to increase the volume of the EU referendum discussion “…speaking clearly in a language that people understand.” Concerns are growing in Britain’s business community over a potential “No” vote for the EU referendum. Some multinationals from Japan and the USA have indicated that they may reconsider their UK commitment in the event of the country leaving the EU trade bloc. Non-European multinationals often have European headquarters located in the UK. Experts believe that Brexit could encourage major international financial institutions to relocate the majority of their staff and operations to Frankfurt. Updated Oct 9th Yesterday, the Brexit movement made a significant leap when “Leave Now”, a cross-party campaign for the UK’s exit from the EU took place. Leave Now members come from all political parties. Video: Airbus warns UK about Brexit threat. Airbus is one of Britain’s largest foreign manufacturers and has expressed concern that the UK could lose future investments.
Bank of England sent the Guardian newspaper an error in its Brexit project
