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Bank of England official flags risk of capital flight from UK
Britain has become increasingly reliant since the 2016 Brexit referendum on “flighty” foreign funding that could be withdrawn at short notice, a Bank of England official said on Tuesday. Three years after voting to leave the European Union, Britain is riven by political turmoil and the future of Brexit looks less clear than ever, raising questions about prospects for the world’s fifth biggest economy and its financing. Britain runs a big current account deficit - the difference between the money flowing in an out of the country - which leaves it reliant, in the words of BoE Governor Mark Carney, on “the ... (full story)