1. If the central problem is the price of imports (i.e. natural gas) outpacing exports (service sector), is this problem a downstream effect of Brexit closing off valuable markets? This seems obvious to me, but I don't see any mention of Brexit as a causal factor in the BOE Chief Economists comments (perhaps I missed it), and so am wondering if I'm overestimating Brexit's impact on the UK economy.
2. If Brexit is a relevant, and significant factor, in theory, can post-Brexit trade negotiations increase the export sector to offset this?
3. Assuming the natural gas is primarily used for building energy, is it easy for the UK to transition to alternative thermal energy sources (i.e. switch to electric generated from non-gas sources, heat pumps)? I've always thought of the UK as a very efficient user of energy, like most European countries, due to it's high density and stricter efficiency standards relative to the US and Canada, and am surprised the natural gas price increase seems to be framed as a relatively permanent problem that the UK is powerless to stop.
To be fair, I suppose a huge challenge is the older building stock can't easily use lower capacity electric heating, or heat pumps due to the historical reliance of thermal mass over insulation, but there are established ways to fix this, and shouldn't be an issue for modern buildings.