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Hoped @haskelecon would thread main points of his speech today on his personal a/c (which wld I think be a CB first!). But in its absence, here’s my précis 1/n
Business investment only 9% of GDP, but way volatile. Affects both demand (bidding stuff away: inflationary!) and supply (using this stuff to make more stuff: deflationary!). 2/n 
Looks like something happened the UK in mid-16 to to weaken business investment vs G7 peers… 3/n
Not *all* going to be Brexit-related. Inv in transport equip rel to its productive stock has reverted to mean (1st chart), but stripping this out, inv still looks rubbish (2nd) 4/n
Why is investment rubbish? Not due to high WACC, or low govt support for R&D. Looks instead due to elevated Brexit-related uncertainties. 5/n
Bottom line is that 70% of slowdown in investment in UK has been due to Brexit. 6/6 bankofengland.co.uk/-/media/boe/fi…
