Bank of England governor Carney denies trying to scare people with Brexit warning - business live

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Rolling coverage of the latest economic and financial news, as BoE governor Mark Carney defends his latest Brexit scenarios

• Latest: Governor grilled on Radio 4
• Carney: scenarios aren’t scare stories
• Carney: UK needs a transition deal

Earlier:

• Bank: No-deal Brexit would create deep economic pain
• The papers: It’s Project Hysteria again

8.43am GMT

Q: Are you worried that if Brexit goes belly up, people might blame you for sounding so incredibly gloomy and scaring everyone?

No, Mary Carney replies, returning to his key point -- that Britain needs to be ready for Brexit (and it’s not yet)

The issue is preparedness. The thing that people don’t need to worry about is the financial system - it will be there for them.

They can focus on what’s more important.

The financial system is just a servant of the economy, and it’s been far too centre state for far too long.

What happens to this economy, very important decisions are being made by others.

8.37am GMT

Q: What is so good about Theresa May’s Brexit deal?

Mark Carney plays a straight, technocratic bat, saying it’s not up to him to choose between various options:

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