Britain's future looks bright as anti-Brexit companies like Nissan 'business as usual'

Britain's post-Brexit prospects are looking brighter amid indications that Remain-backing companies are now 'moving on', the Bank of England's former chief economist has said.

Andy Haldane says he is 'very, very optimistic' about Britain's future as major companies like Nissan shake off the challenges of leaving the European Union and invest billions in the country.

Haldane warned that higher interest rates are taking a toll on the economy as mortgage bills soar and savings are quickly depleted.

But in an exclusive interview with The Mail on Sunday, he said the “dynamism, energy and progress” of many major companies offered real hope.

Until now, Haldane, head of the Royal Society of Arts think tank, has been reluctant to talk about Brexit.

He was chief economist at the Bank of England during the 2016 referendum campaign. Many in town were convinced he would be appointed to replace Mark Carney as the Bank's next governor.

At the time, Carney was accused of stoking 'Project Fear' by warning of the damage leaving the EU could cause.

Haldane said: 'It has always been the case that with any regime change there will be short-term costs as people adapt. The lion's share of these transition costs is now likely to disappear. People adapt to the new world.

'It is extremely positive that the business community continues as usual and looks for new markets and new investments.'

US banking giant JPMorgan, whose boss Jamie Dimon has spoken out about the perceived dangers of a vote to leave the EU, is among companies comfortable with the referendum outcome.

Speaking at a global investment summit last month, Dimon praised Britain's “pro-growth” stance. He described Britain as a 'source of stability for the world'. Dimon stated, “You guys are doing great.”

Japanese giant Nissan, whose Sunderland car plant is Britain's largest, was also among those to issue dire warnings about Brexit but has since changed its tune. It has confirmed a series of multi-billion pound investments into the factory's future and said in November it had 'rapidly adapted' to Brexit, with the impact proving to be 'negligible'.

Haldane told The Mail on Sunday: 'The car industry has been one of the most vocal about Brexit concerns and the fact that companies are adapting and indeed investing is something I find very encouraging.'

His intervention comes as forecasts indicate the UK economy will stagnate in the coming year.

Haldane says he sees the potential for an economic revival in northern cities such as Liverpool, Sheffield and Sunderland. 'I think there is enormous latent energy in the British economy.'

“We have some brilliant companies and we have some brilliant people,” he says. 'Many companies and many places are pregnant with potential.

“Right now, there has never been a more important time for us to address this when it comes to driving growth in this country.”