The risk of the UK falling out of the European Union without a deal has become "alarmingly high", according to the governor of the Bank of England, Mark Carney.Speaking to Sky News, Mr Carney said the idea that a no-deal Brexit could be 'managed' is "absolute nonsense".
MPs last night (Tuesday) voted by a majority of one to force the Prime Minister to ask the EU for an extension to Article 50 to prevent a no-deal scenario. However, it still requires approval in the House of Lords and agreement by the EU itself. And talks between Theresa May and Jeremy Corbyn's teams to find a compromise on the Brexit approach resume today.
Mr Carney said that there are still "lots of things to worry about", despite recognising that "real progress" had been made in preparing for a no-deal. His latest warning is a step up from the language used in August when he described the risk of no-deal as "uncomfortably high".
The governor of the Bank of England said: "We're in a situation where the expressed will of Parliament is for some form of deal, so to put it in the double negative - Parliament is against no deal, the government, as expressed by the prime minister, is against no deal, the European Union is against no deal, and yet it is a possibility, it is the default option.
"So no deal would happen by accident, it would happen suddenly, there would be no transition - it is an accidental disorderly Brexit."
In particular, Mr Carney fired criticism at Brexiteer MPs who have suggested free trade could continue with the EU while negotiations over the future relationship proceed. He said these MPs need to be "called out".
"I might point out that they want to become better acquainted with the Secretary of State for Trade [Liam Fox] who in Parliament has made the point that it cannot apply unless both parties agree, and unless you're moving towards a - guess what - a customs union."