Higher spending planned by British Prime Minister Boris Johnson will help offset the drag on the economy from Brexit but his government must keep on bringing down public debt levels, the International Monetary Fund said.

Britain's jobs boom has weakened in the approach to Brexit with the number of people in work unexpectedly falling by the most in over four years and unemployment rising, official data showed on Tuesday.

Britain's vast financial services industry will lose more jobs to Europe over the coming years because of Brexit, the City of London's policy chief told Reuters, warning people not to be duped by the low number of job moves to the continent so far.

British consumers have not yet stockpiled groceries ahead of Brexit though they are considering doing so, market researcher Kantar said on Tuesday.

The Bank of England may need to make its main tool to smooth out swings in bank lending more powerful to combat future economic downturns if interest rates stay low for a long time, Deputy Governor Jon Cunliffe said on Monday.

Bank of England Deputy Governor Jon Cunliffe said on Monday that people should not rule out the possibility that the British central bank might need to raise interest rates after a no-deal Brexit.

A British employers' group criticised on Monday what it said would be the "beyond eye-watering" cost of the opposition Labour Party's plans to return utilities, train companies and the Royal Mail to public ownership.

Finance minister Sajid Javid said on Monday he planned to deliver Britain's first post-Brexit budget statement on Nov. 6, less than a week after the country's deadline for leaving the European Union, if it exits with a deal.

Prolonged political uncertainty in Britain is forcing finance directors to cut costs and hold off hiring to help companies prepare for an unpredictable year ahead, according to a survey by Deloitte.

Bank of England Deputy Governor Dave Ramsden said he did not share the views of some of his colleagues who have suggested the British central bank might cut interest rates if the Brexit crisis drags on beyond the current Oct. 31 deadline.