Thread by @faisalislam

NEW: UK excl interview with Governor Mark Carney for #BBCNewsTen

- Johnson deal “net economic positive” for taking away No Deal disorderly Brexit “tail risk”
- “Different” pol declaration means Econ impact “remains to be seen”..wouldnt “overlap” with closest version of May deal

-asked Governor how a deal involving customs checks and other frictions could result in a bigger economy under the Bank’s model than May’s deal.

Says PD “somewhat different” and that being diplomatic, “wouldn’t be overlap” between new Johnson deal and closest version of May deal

- also confirms although aim is for a free trade deal - “there's not a guarantee that it would be developed...” and if not then go to WTO terms...so a deal “removes some uncertainties” but “Certainly a lot of uncertainty would remain” which “would have an impact on the economy”

This is what I asked Governor about last night - last year when May deal done, the Bank released impact study saying that “close” partnership would be better than then expected path for growth - asked him to repeat that assessment for Johnson deal, said it “remains to be seen”:

Bank last year assessed a “close” and a “less close” version of an economic partnership deal.

Less Close assumes customs and regulatory checks on UK-EU trade

Less Close scenario would have been hit to the economy rather than a boost, and a difference of 2% on its expected size.

PM when asked in debate re manufacturer’s concerns re no longer stopping rules of origin checks
“There are no new rules of origin checks”...

Ref to “obviating need for rules of origin checks” in the May Political Declaration (R) definitely been removed in his Revised PD (L)