Jonathan Haskel, External Member of BoE MPC, said in a speech that UK investment has been very weak in the last couple of years. Brexit uncertainty is weighing on business sentiment.
Also, he noted that “Brexit is a process not an event”. And he warned that “that process has the possibility of creating more cliff-edges; the length of the transitional/implementation period, for example”.
“Since the very nature of investment is that it needs payback over a period of time there is a risk that prolonged uncertainty around the Brexit process might continue to weigh down on investment.”