There needs to be a smooth transition to Brexit

The Government needs to move on from Project fear to reassure and help bind the  country back together. There are believers in the EU project who are very unhappy tonight.  There are market speculators and market makers who are fanning the idea that there will be abnormal price movements as a result of this momentous  decision.

The Bank of England has made liquidity available. Bond interest rates are low and down. There is no Brexit related cause of major downward revision of earnings or output from companies, as nothing has yet changed economically. As the government pointed out today trade continues today as yesteday.

After a great democratic decision we can all help our society by respecting each other’s views, and ensuring legitimate worries are dealt with. It is also important to avoid exaggeration or talking ourselves into problems which do not exist otherwise.

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73 Comments

  1. ian wragg
    Posted June 24, 2016 at 4:52 pm | Permalink

    What worries me John is going down the Article 50 route when we will probably be told we have to continue with free movement and pay a hefty fee.
    This is not what we voted for.
    I hope emergency legislation will be prepared to neuter the ECJ and all new EU regulations will be postponed.
    We don’t want 2 years of frenetic activity to hobble the UK.
    Lets hope Scotland has its referendum and leaves.

    • Jerry
      Posted June 24, 2016 at 8:47 pm | Permalink

      @ian wragg; “Lets hope Scotland has its referendum and leaves.”

      Fancy that, UKIPers, some of whom supposedly defended our country against communism, manage to do what the Warsaw pack and the Nazis before could not, split apart and thus destroy the UK…

      • Hope
        Posted June 24, 2016 at 9:31 pm | Permalink

        Drivel Jerry. No evidence, just drivel. We were only in the EU forty years of our history.

        • Jerry
          Posted June 25, 2016 at 6:20 pm | Permalink

          @Hope; Best you tell the SNP that then!

      • Old Albion
        Posted June 24, 2016 at 10:17 pm | Permalink

        Yeh ! I mean the Scots have made no previous attempt to leave the UK have they? Oh hang on a minute ………………………

        • Peter Parsons
          Posted June 25, 2016 at 4:31 pm | Permalink

          Yes, that was when they were promised that voting to stay was the best way of securing their continued membership of the EU…

      • zorro
        Posted June 24, 2016 at 10:26 pm | Permalink

        That would be a decision for the Scottish people Jerry, and not UKIP…. Somehow, I doubt that the SNP will go for a referendum because

        a) they would lose
        b) they would have to apply to join the EU afresh as a new country, and join the Euro with its austerity bits
        c) If they think that they can leave the UK, keep £ and expect us to underwrite them, and still join the EU, they are living in la la land

        zorro

        • APL
          Posted June 25, 2016 at 12:46 pm | Permalink

          Zorro: “I doubt that the SNP will go for a referendum because”

          Would the EU even want Scotland? Population is roughly the size of the Republic of Ireland, generously let’s say its GDP is too, $250billion.

          The country is overwhelmingly statist which is a good fit for the EU but means there isn’t much wealth generation. Tax revenue would be a bit of a mirage.

          The two things attractive about Scotland for the EU:

          It could lay claim to the North Sea oil. But that’s in decline and with the world recession and oil at $43/$44 per barrel some of the North sea production is borderline uneconomic.

          It would still have claim to the North Sea fishing grounds – even though the CFP has decimated the fishing stocks.

          Given the ability of your average Scots MSP, I’d imagine they’ll be trussed up like a pork roast by the EU before they get membership.

          • Ewan MacRae
            Posted June 28, 2016 at 3:24 pm | Permalink

            As an investment banlker and then as an academic at Glasgow University I noted 94% loss of the North british private sector ( ie North of York). Since then Sc Power Br Nuclear B of Scot and now RBS.

            The elephant in the room is the loss of its private sector.
            My town Selkirk had 11 manufacturing businesses. Ropert Thorburn Noble produced the best Worcested Cloth in the world, Exacta made the printed circuits for Concorde ( and £3M PAT) and Dawson had a very large spinning mill.
            The place ( Pop 7500) hummed. All 11 closed .

            So what exactly are those with northern domicile supposed to do? Are they ( we) not entitled to be dischuffed?

            Frankly when DC said 80% of our economy is services I nearly cried. Now GBP is likley to progressively cease to be a petrocurrency. Will that enable a return of some manfacturing?

            I can remember when salmon farming was on idea on a blank sheet of paper. It is huge now. There are lots and lots of ideas like that. Can’t get the finance. Meanwhile BOTS are stripping value from AIM .

            I am not just too pleased at the notion of being got rid of. Isn’t that what happened to the Highlanders?

            Maybe just maybe a better idea would be to put thinking caps on and get some eletronics and looms back into places like Hartlepool and Selkirk? Maybe the people in the North can be useful again? Maybe the North South divide can be fixed?

            It also maybe that services might move base? Then the south is in trouble too. Maybe being friends and allies as Caledonians and Angles is a better idea.

      • Anonymous
        Posted June 25, 2016 at 3:21 am | Permalink

        Jerry – The Scots Nats have done that, not UKIP.

        • Jerry
          Posted June 25, 2016 at 6:21 pm | Permalink

          @Anonymous; Once again you mix up cause and effect.

      • Mark B
        Posted June 25, 2016 at 4:28 am | Permalink

        It is only worth building a union if it a union of the willing. The EU will, one day, find this out for itself.

        • James Matthews
          Posted June 25, 2016 at 9:22 am | Permalink

          Exactly. However, Ms Sturgeon has previously indicated that she will only hold a referendum if she thinks she will win, so I won’t hold my breath. If and when a referendum is called my money’s going to be on the Scots remaining in the UK. They won’t get as good a deal from Brussels in the foreseeable future

        • Jerry
          Posted June 25, 2016 at 6:22 pm | Permalink

          @Mark B; But that is building one, what about demolishing one?

          Non so blind as those who chose not to see.

    • fedupsoutherner
      Posted June 24, 2016 at 10:05 pm | Permalink

      Ian, don’t tar all of us in Scotland with the same brush. Many of us worked just as hard to achieve this result. We don’t want a second referendum much as we didn’t want the first one. We are also fed up with the SNP always trying to blackmail the Uk into getting what they want. Many Scots might have wanted to stay in the EU but that doesn’t mean they want to split from the UK. I am English living in Scotland like many others and the prospect of independence scares the crap out of me. We can’t sell our house to get out and are very much afraid for our future. We want to be a part of the new, forward thinking UK and hope to God someone comes to their senses before it is too late. We love the UK and it would be a step backwards if a split were to happen.

    • bratwurst
      Posted June 25, 2016 at 8:11 am | Permalink

      Article 50 is the only legal way to exit. Try reading the paper from the European Union Committee by 2 leading constitutional QCs, Sir David Edward KCMG, QC, PC, FRSE and Professor Derrick Wyatt QC. It looks at the options and concludes that article 50 is the only option that does not break international law & treaty obligations. I found it an interesting read and easily understandable.

      • Jerry
        Posted June 25, 2016 at 6:25 pm | Permalink

        @bratwurst; Under EU law it is their prescribed way, and perhaps the only ‘wise’ way, but under fundamental UN international laws it is not the only way.

        • bratwurst
          Posted June 25, 2016 at 9:18 pm | Permalink

          Wrong

          • jerry
            Posted June 26, 2016 at 3:21 pm | Permalink

            @bratwurst; Oh right so the UN principle and founding Article 1 paragraph 2, the right of any country or its people to self-determination, is ‘wrong’? Every single (would be) dictator or aggressor-nation in the world will be heartened by your assertion…

  2. Janet
    Posted June 24, 2016 at 4:58 pm | Permalink

    Would new leader need to get majority from country before proceeding?

    • formula57
      Posted June 24, 2016 at 8:19 pm | Permalink

      The new leader has a majority decision to implement, 52% to 48%.

      • Jerry
        Posted June 24, 2016 at 8:51 pm | Permalink

        @formula57; I think @Janet; probably meant what sort of Brexit deal we get, not if we get a Brexit.

        After the new Tory party leader is elected then there needs to be a immediate repeal of the FTPA and a GE, after all one would not wish for the Labour party to claim that the PM has no mandate, in the same way as the Tories complained that PM Brown hadn’t any…

        • Janet
          Posted June 24, 2016 at 9:02 pm | Permalink

          Right, this is why i think it is so important to get the right leader. not just for implementation of brexit, but one that will get a majority in a GE.If J Corbyn is ousted and a more moderate leader for labour is voted in, then the last thing i would want to see is labour winning and we lose the golden opportunity of breaking free properly.

        • Jant
          Posted June 24, 2016 at 9:07 pm | Permalink

          This is why it is so important that we get the right leader.i would hate to see this golden opportunity of indepence dashed by a labour win in a GE, thinking if J Corbyn is ousted in the near future and they installed a more electable leader.

        • Mark
          Posted June 24, 2016 at 9:47 pm | Permalink

          Brown wasn’t even elected by the Labour Party – simply appointed by Blair as the result of a restaurant dinner.

        • Mark B
          Posted June 25, 2016 at 4:32 am | Permalink

          I think what is required is less uncertainty. Business, the markets and our friends in the EU and the world need to know that the country is stable (politically) and in good hands.

          But yes, once we have left the EU, and if a GE does not come before, we should elect a new parliament.

          I think there are many Labour voters who wish to have representatives who better reflect their views on important issues than the current crop seem to do.

          😉

      • Lifelogic
        Posted June 25, 2016 at 4:03 am | Permalink

        Imagine what the vote would have been had the government recommended Brexit as Cameron should have done, and had the BBC, the Bank of England, Obama and all the tentacles of government not sloped the pitch and run their project fear. Perhaps as much as 2:1 for leave would have been possible.

        Why on earth do the BBC still have “white van man” Emily Thornbury and Ken Clark on they are so out of touch and just do not get it. We have had more than enough of these EUphile, condescending, green crap promoting, bloated state, high tax, endless red tape, anti democratic, left wing pessimists?

        With a sound agenda, sensible quality migration, lower simpler taxes, and cheap energy Britain can be independent and more prosperous per head than Switzerland and Norway.

      • Lifelogic
        Posted June 25, 2016 at 7:44 am | Permalink

        Without the sloped pitch, project fear, Osborne’s absurd budget threats, the BBC bias, the government funded leaflet of lies and the milking of the tragic death of Jo Cox it might have been more like 2:1 for leave!

        • Jerry
          Posted June 25, 2016 at 9:21 am | Permalink

          @LL; But without biased from Brexit backing media there might well have been no vote for Brexit, why should the print press barons be allowed to tell the voters how to vote on the front pages of their publications and websites – on polling day to boot…

          If anyone believes that the press barons should have such a right then all it does is prove that you love bias, just so long as it is biased towards your argument!

          We need to control these press barons, in the same way as broadcasters are (and in times of elections etc. yes they are controlled), they need to be made to report the facts, and in a balanced way, not just what their owners wish. Before anyone complains, no this is not a attack against the right-wing as the problem exists with with the left and centrist press too.

  3. MPC
    Posted June 24, 2016 at 5:05 pm | Permalink

    One of the most impressive aspects of the Voteleave leadership campaign has been the calm and rational arguments put forward, which you continue with in this blog, and which I know from experience has helped persuade many people of the merits of the Brexit case.

    I see there’s been some froth in the FTSE today but nothing overly dramatic as many of us predicted in local campaigning.

    Many thanks to you Mr Redwood. I joined Voteleave and worked locally in a political campaign for the first time as a result of being inspired to do so by both yourself and Daniel Hannan. One day I hope to be able to thank you in person for all of your work and unwavering commitment to democracy.

    • David Price
      Posted June 25, 2016 at 7:08 am | Permalink

      Heartily agree. I also joined in the Leave activities after a bit of a kick by our host on this blog. It was an illuminating experience and afterwards I got to attend the local count, a very exciting night with a great result for our country.

      So I’ll say thank you to John on the blog and shake his hand if we meet again.

      One plea though. The Leave activity drew on people across the parties and I would hope that is reflected in the discussions, planning and execution of our exit and realignment process. For me, an aspect of this drawn out process is how people in this country are not listened to generally, by our own government as well as the EU. And by listening I don’t mean simply accomodate the policitians, actvists and lobbyists, I mean engage with the citizens.

  4. eeyore
    Posted June 24, 2016 at 5:10 pm | Permalink

    It would certainly help if the BBC pulled itself together and stopped panicking.

    Er, I say, Mr Redwood, don’t suppose there’s any chance of your looking after the Treasury for a bit? And that polite Mr Rees-Mogg would go down very well at the FO, if he’s nothing better to do.

    • Mark B
      Posted June 25, 2016 at 4:33 am | Permalink

      +1 on both counts.

  5. Bob
    Posted June 24, 2016 at 5:23 pm | Permalink

    Speculators have been active, but I expect the markets to calm down once the petulant Chancellor has been relieved of his duties.

    • zorro
      Posted June 24, 2016 at 10:29 pm | Permalink

      Indeed, the money changers placed the wrong bets, and are busy scrambling to recoup their losses on sterling hedges….

      zorro

      • APL
        Posted June 25, 2016 at 1:50 pm | Permalink

        zorro: “Indeed, the money changers placed the wrong bets,”

        There was some discussion about the odds of Brexit, based on the bookies odds. Analysis of the subject indicated that relatively few presumably wealthy individuals were putting large bets on Remain, and skewing the odds.

        Then the media picked up the bookies odds and ran with them. Turns out the result was almost exactly the opposite.

    • Roy Grainger
      Posted June 25, 2016 at 8:01 am | Permalink

      Agree with that 100%, he needs to be fired immediately. He totally lacks credibility – I mean he PROMISED us an immediate punishment budget so where is it ? Or was that just a lie ? Similarly Cameron PROMISED to stay on whatever the result and yet within a few hours he was gone. That is the problem with politicians like them, you simply can’t believe a word they say.

  6. Bob
    Posted June 24, 2016 at 5:27 pm | Permalink

    Mr Redwood,
    A heartfelt thank you for your steadfast determination in your long campaign for British self-rule.

  7. Lifelogic
    Posted June 24, 2016 at 5:31 pm | Permalink

    Indeed the BBC, especially, is still very keen to big up the down sides. This is just temporary uncertainty. The U.K. Fundamentals are far sounder today than they were yesterday, it is fundamentals that count in the end. Above all we are a democracy again too and away from the Euro bail outs and risks.

    With someone sound like JR as chancellor and with gimmick Osborne gone, the fundamentals would be even better still.

  8. Christine Constable
    Posted June 24, 2016 at 5:34 pm | Permalink

    John, I for one worked hard leafleting for a Leave Vote and am thrilled we pulled it off. Now we have the chance to paddle our own canoe getting our Constitutional machinery fit for the 21st Century will be critical. Whilst I realise sorting out the EU departure planning will be a priority, we should take the opportunity to clean out a lot of fusty old cupboards constitutionally. We will have to reinvigorate our civil service and our law making skills, revamp the Lords and get the long awaited English Parliament and stop messing about with the half baked system we have. By leaving the EU we can dump the Euro Regions, reinstate County Government and get devolution working for England, rather than allowing our democracy to suffocate with inappropriate constitutional machinery to support it. We have much work to do to get back on our own two feet and we need a Parliament fit for the 21st Century to help us get there – will you champion the modernisation of our Constitution and really stand up for England and her right to now be a major player in this devolved Union?

    • Mark B
      Posted June 25, 2016 at 4:35 am | Permalink

      Hear hear

  9. margaret
    Posted June 24, 2016 at 5:36 pm | Permalink

    We have to make the environment good and stable for our children and grandchildren, We need to convince the EU that we are not a thouroughfaire to pick up benefits on the way. We need to convince those who we trade with that as the pound falls we are competitive and can build. Remember Aldi are big because they were cheaper and they are gradually increasing their prices. We need to buy British and convince others to follow us. We need those who are with us not against us.

    • Margaret
      Posted June 25, 2016 at 5:15 am | Permalink

      spelling typo.. would be a good idea if when we spotted mistakes ,as they await moderation , we could edit …..thoroughfare…..
      Yesterday my NHS list included Italian Asians, south east Asians, Kurds, Scottish Asians and Chinese .Out of 18 patients , 2 were English. I was told that they were not going to learn to speak English and I should learn Urdu. Whilst I have learnt a few words at the age of 65 to help me cope, paid my taxes and NI for 40 years, serve all, it breaks my heart that I am mocked, used and abused . All their treatment is free and I cannot do any other as my professional ethical conscience will not let me, but there is no gratitude whatsoever. I actually do enjoy the multi culture and there is much we can adopt as British, for example the ladies on the whole do not smoke or drink. Let us tread gently , but remember our own neglected English who are being sent to the Orwellian knackers yard .

  10. Jagman84
    Posted June 24, 2016 at 6:01 pm | Permalink

    A weird stock market crash that leaves it higher than it was on Monday and 500 points higher than in February. The markets work for their own benefit, not the Nation states. The fall in the pound is partly a natural correction that was prompted by QE, or legal counterfeiting, as it should be known. At least our exports are more competitive for a while. How Greece, Italy, Spain, etc would love such a disaster!

  11. Pauline Moorhouse
    Posted June 24, 2016 at 6:05 pm | Permalink

    I agree with you. The media have too many opinions which they want to force upon us instead of simply reporting. UKIP held a rally in Bradford. The media said it was European money that rebuilt it. It was our money. I am not a UKIP supporter. The Leave party behaved impeccably with respect and dignity. Boris, Andrea and Gisela were positive about GB’s future success, recognised that it is our money Europe is giving back to us and were unthreatening, more than could be said for Remain. I’m surprised they didn’t enlist the help of Father Christmas. The voters are not stupid and can discriminate between falsehood and genuine passion. BBC’s obvious desire for Remain did not pull the wool over our eyes. Well done. It’s not going to be easy but life isn’t for those who have nothing to lose. Again Gisela’s contribution was also brilliant but note, the BBC did not have the decency to allow her words to be heard with those of Boris and Michael. Once again thank you.

  12. Mark
    Posted June 24, 2016 at 6:33 pm | Permalink

    I note that long gilts soared almost £10 today. If there’s that much demand, perhaps the BEAPFF should sell off some of its holdings. The bond bubble is heading into very dangerous territory.

    I suspect that a number of bankers may not only have lost out on the financial positions they have pushed their banks into taking, but also personally on large bets they made for Remain at absurd odds. Once they have accepted that they were simply foolish (even perhaps vain if they were hoping thereby to influence the referendum result) they will perhaps focus on the opportunities that a free UK will have to expand its economy. The other stock market losers were building companies – presumably because their output may no longer be required in the same quantity if there finally is some control over immigration.

  13. acorn
    Posted June 24, 2016 at 6:57 pm | Permalink

    Exactly so JR. The UK has nothing to fear from vigilante Casino UK Bond traders. The BoE has infinite capacity to swap UK Treasury Bonds, back into the Treasury “reserves” (previous government spending) that bought those Bonds originally. The BoE can crush any Bond vigilante, any time it wants to.

    That is, it can re-inject the original cash (= liquidity) the government spent into existence, back into the economy. At the same time, saving all the interest payments the Treasury would have been paying, on those Gilts, mostly held by private pension funds.

    Likewise, currency trading is a similar global betting shop, exactly like Ladbrokes. Punters place bets on the daily exchange rate of two currencies. Just the same as placing a bet on two flies walking up a window pane. The currency casino is some twenty five times larger than is actually required to facilitate global trading of goods and services.

    It’s a terrifically profitable system for the transnational, tax minimising, metropolitan, elites. The other 99% don’t do so well out of it.

  14. Miami.mode
    Posted June 24, 2016 at 7:03 pm | Permalink

    Doubtless the EU Commission will find there is a large hole in their accounts for which the UK will be deemed responsible for a considerable amount before Brexit is complete.

    • Mark B
      Posted June 25, 2016 at 4:40 am | Permalink

      They will get the ECB to print more money – problem solved. German savers on the other hand . . . . . . ?

  15. CHRISTOPHER HOUSTON
    Posted June 24, 2016 at 7:29 pm | Permalink

    So there needs to be a figurehead. Also a Chancellor. One who made a statement yesterday. Did not hear one.
    Good the BoE made a statement. The substance of it should have been made months ago. Instead …well we know the rest.
    Lots of press speculation now, with journalists having just one explanatory tool: a stick- diagram showing the decline of the Pound.

    Summer hols now. Some preliminary small group of MPs who can answer definite media questions would be good, instead of an unknown headless invisible dumb chicken as the default answer for journalists.
    We can rely on Ms Sturgeon to utterly exhaust the Scots people with her chants of her Independence which they have already voted upon.

  16. Martyn G
    Posted June 24, 2016 at 8:28 pm | Permalink

    Priorities? Exit the CAP. Banish EU trawlers from our seas. Put England back on the map. Establish a fair rule for England with its own Parliament or assembly, as has Scotland, N Ireland and Wales. Redistribute the billions we pay to the EU so that it works to improve the NHS, protect our farmers and so on.
    I have long been appalled at the words and actions of Mr Cameron but thought his ‘farewell’ speech today showed signs of statesmanship, until the point he said he would stay in office for the next few months. True statesmanship would have said I will take the wishes of the population forward to seek the best possible outcome from the Brexit vote. Again, he has let us all down and consigned the UK to months of uncertainty and for that he should be ashamed.

    • Mark B
      Posted June 25, 2016 at 4:45 am | Permalink

      I agree with much of what you said except for the last bit.

      We need calm right now. PM David Cameron was right to say that he will do all he can to ‘steady the ship.’ And steady it he must.

      I see the so called ‘independence nationalists’ trying to make hay out of all this. But predict that, once Article 50 is declared, their dream is over. They will go quiet for quite some time.

  17. forthurst
    Posted June 24, 2016 at 8:44 pm | Permalink

    A rare event, much like a once-in-a-lifetime astrological event for astronomers, brought on a feeding frenzy by the socially beneficial hedge funds and ‘investment’ banks; one can only hope the BoE was not so foolish as to call on John Major to advise on sterling support.

    JR has tirelessly explained why we do not need to jump to the EU’s tune over Article 50 and I very much hope that a new government will employ his wise council in advising how to approach Brexit. It is important to move as quickly as possible to establish our new position with regard to the Brussels regime and start to create facts on the ground in fishing, agriculture, energy, and external trade as well as the earmarked cash which is returned to us from our EU tax.

    It is vital that the Scots are encouraged not to act precipitately before they have had a chance to assess how Brexit would benefit them in future.

    • Jerry
      Posted June 24, 2016 at 9:11 pm | Permalink

      @forthurst; The way the eurocrats in Brussels are talking they seem to believe that A50 has been activated, for them the activation was caused by the official electoral commission declaration. If we do not start negotiating now then by the time we do any deal will have been stitched-up, in mean, decided by the remaining EU27 behind closed doors and will be presented to the UK as a Take it or leave it deal, designed to protect the eurocrats “project”.

    • Paul H
      Posted June 24, 2016 at 9:17 pm | Permalink

      I see that Schulz and co. have learned nothing, still trying to bully us by saying that we must start the 2-year countdown (with the ominous note that they will find alternatives if we don’t) even ‘though the treaty puts the timing entirely in the hands of the UK. At the same time they have made clear that they will not make things easy for the UK. I say string them along.

    • Mark B
      Posted June 25, 2016 at 4:48 am | Permalink

      Our kind host dismissed Article 50 out of hand, preferring to either amend or repeal the ECA 1972.

      But, PM David Cameron seems to have, for once, taken wise council and has stated that Article 50 is the route the UK SHALL take. It will just be someone else that does it.

      • forthurst
        Posted June 25, 2016 at 5:30 pm | Permalink

        Mark, if CMD does not invoke A 50, how can his successor be constrained either by his preference or, for that matter, by EU Referendum’s Flexcit?

  18. Glenn Vaughan
    Posted June 24, 2016 at 8:54 pm | Permalink

    Congratulations to you John for succeeding re. an arduous campaign that has lasted not months but years!

    You are highly intelligent, perceptive, intuitive and diligent. You have all the attributes to be a successful leader of this country but unfortunately they are qualities that will rule you out from being leader of the Conservative Party and Prime Minister.

    However, my fingers are firmly crossed that you will be offered a high ranking Cabinet post which is the least you deserve.

    • Mark B
      Posted June 25, 2016 at 4:50 am | Permalink

      It would indeed be good to see someone of the calibre of our kind host at somewhere at the Treasury.

    • matthu
      Posted June 25, 2016 at 6:48 am | Permalink

      Hear, hear!

  19. David Webb
    Posted June 24, 2016 at 9:13 pm | Permalink

    It’s a time for cool heads, sound economics, and constructive work with our neighbours – no need for grand deals, just focussed and effective ones on specific issues.

    Scotland must have a 2nd independence referendum if its Government wishes – the EU (and the implications of joining as an accession nation) was key to the last debate. The London line should be England and Wales as committed partners for Scotland within the 1707 Act of Union … we want Edinburgh happily to choose London and the pound, over Brussels and the Euro. But no Project Fear.

    Relations with Irish Republic are also critical. Northern Ireland was strongly for Remain and this must be treated with respect. An NI referendum would not be effective – an arrangement that ensures that the Irish republic is not disadvantaged by Brexit, and that all the positive aspects of our current relationships are sustained, is essential.

  20. boffin
    Posted June 24, 2016 at 9:48 pm | Permalink

    I beg to echo the thanks others have tendered for our host’s efforts, and the exhortation of one Lady following the UK’s previous victory – “Rejoice!”

    Swift action towards reform of our relationship, and of the EU itself, whilst the Brussels bureaucratic machine is in some disarray – and whilst we hold a strong hand of the cards – would seem to best for all the victims of the EU, not just the UK. However, the departing PM’s announcement leads me to fear that we could become becalmed in the Ancient Mariner’s Sargasso, where

    “slimy things did walk with legs,
    upon a slimy sea”

    i.e. unnecessary delay in seizing the initiative would be to play into the hands of the EU bureaucrats, who will be in their element in extending delay ad infinitum.

    Dr. Redwood, perhaps you could tell us some more about the practical possibility of expediting matters of urgent priority (e.g. fisheries, cheaper energy, freedom from ECJ rulings) ?

  21. DaveM
    Posted June 24, 2016 at 10:08 pm | Permalink

    I’d like to see the main two parties reform along their traditional lines. And I’d like to see the Govt do deals with Scotland, Wales and NI in order to produce a blueprint which reflects the modern zeitgeist, and this includes genuine EVEL. Then we can forge forward with full control over our own affairs and prove to the youth that this was the best decision this country ever made. I for one have a newfound enthusiasm for my job, feeling that I am genuinely working towards a better country for my kids and their kids, not a country waiting to be subsumed into a EU superstate.

    Exciting times.

  22. Freeborn John
    Posted June 24, 2016 at 10:21 pm | Permalink

    I was at the regional Vote Leave celebration drinks in Reading tonight. Many people with sore feet from tramping the streets of Reading, Bracknell and elsewhere but all so overjoyed at the result. Met Hillary Pollick who I understand you know well and was saying how even if we have an election soon it is so important that you are in next parliament to prevent any backtracking from the political class in accepting this wonderful referendum result. Would also like to express extreme gratitude to Reading councillor Sandra Vickers who was so wonderful in leading us around Tileshust during the Get Out the Vote operation for Vote Leave on Thursday. I walked 46 miles this week delivering leaflets and begging/pleading voters to come e out on Thursday and tonight in Reading there were real heroes from the Cote Leave campaign who made such a difference in a close result. Great too to see the multinational nature of these heroes with Candians & Croats among the highly committed volunteers who campaigned so hard for Leave.

  23. zorro
    Posted June 24, 2016 at 10:51 pm | Permalink

    Well done to everyone and may we work together for a brighter, independent, and prosperous future. It’s been a busy day…. Bravo to JR again for all your efforts in getting the Brexit case across to a wider spectrum of people. However, as you see, a prophet is not alaways well received in his own home (constituency)…. Perhaps you should have told them that you were Eurosceptic 😉

    Top job
    zorro

  24. Anthony Makara
    Posted June 24, 2016 at 11:39 pm | Permalink

    Something I should like to see John, is the development of our internal market now that the shackles of the EU will finally be off. So I ask you John, how do you suggest we go about rebuilding a Home Market economy while at the same time expanding trade with others around the world? Do you feel that expanding international trade, will, of necessity, lead to an increase in our Trade Deficit, given that those we are likely to trade with will be Soft Currency economies? In your opinion, How do we get the balance right?

  25. stred
    Posted June 25, 2016 at 3:42 am | Permalink

    Out and about the day after, other leavers and myself report that our offspring are very upset by the result. Mine finally returned my call and asked what he and his Scandinavian girlfriend, together and working here and in Europe are going to do now. She needs to go home to take a degree as ours cost much more and are not as good. He wants to be with her and work there and thinks he will not be allowed to do so. Neither earn enough to qualify for our existing rules for non EU immigration. He hopes for a bi-lateral deal with countries where there we and they have no problem with numbers.

    This needs to be sorted quickly and waiting 4 months while the Conservative Party has a beauty contest will be a disaster, as there will be no-one to reassure the many people affected. There are large numbers of small businesses working between the EU and UK.

    The idea of a Brexit government is appealing, including people like Griselda Stuart, who would be able to butter up the Germans, and JR who could sort the trade- offs, David Davis, Daniel Hannan and a kipper MEP with detailed knowledge of how the show works. If we have to wait for Dave to pack his bags and grump off, then at least the Tory hit squad should give him a minder and make him put in new ministers and form a Brexit Ministry with the above team negotiating. The EU emperors seem to want us to depart and agree terms as soon as possible so lets get on with it.

    • stred
      Posted June 25, 2016 at 3:50 am | Permalink

      Could I add that we have a Home Secretary and officials who, we are told, do not want to know the real number on migration. The NI figures are ignored as they do not apply to people who travel home in less than a year, but they do live here 95% of the time and need housing and services. We need a new one who does not favour staying in the EU and actually wishes to have manageable numbers. Also please buy a US style counting system for ports and don’t let the civil service develop a new one that inevitably will fail to work and cost billions.

  26. stred
    Posted June 25, 2016 at 4:09 am | Permalink

    Arrived home to also get it in the neck from the Management, who has been to work to find her many colleagues with EU passports in a state of distress because they think they and their families will al be sent home. Apparently they have believed all the Project Fear tripe and the Ch 4’documentary’ showing police searching for immigrants to chuck out the day after a UKIP victory. No-one seems to have read the UKIP manifesto or heard a Leave statement that they will be allowed to stay. The director of the Institute has told them that he will support them and does not seem to know that no-one has said they will be made to leave or that under an Aussie points system scarce skilled professional will still be sought and allowed in.

    Please get someone like the Trade Minister to keep saying it over and over- something she is very good at.

  27. Antisthenes
    Posted June 25, 2016 at 6:37 am | Permalink

    Market volatility has as much to do with the stayers scaremongering as anything else. They behaved totally irresponsibly during the campaign and now we are paying the price.

  28. Jim Linden
    Posted June 25, 2016 at 7:57 am | Permalink

    Can I suggest the Government cease pussyfooting around on the exit issue? Anyone who wishes to know what the exit options are should head immediately over to http://eureferendum,com and download either the Flexcit document or its summary The Market Solution. This document is the source of recent journalist’s references to “Flexit”, was offered to and refused by the Official Leave, offers a review of exit options followed by a recommendation to pursue the EFTA/EEA option as a pragmatic first step on a longer journey, considers immigration, Freedom of Movement and a host of other exit-related topics. The document created c10 years ago, was two years in creation, requiring navigation through the labyrinth of EU Treaties, and has been maintained ever since. Reading this doument will at least allow informed debate on a complex topic.

  29. APL
    Posted June 25, 2016 at 10:01 am | Permalink

    “After a great democratic decision we can all help our society by respecting each other’s views, ”

    Sure! My views were respected after the ’75 referendum. I was called variously, racist, xenophobic, little englander etc etc. Some of the worst offenders in this respect were members of your party; Kenneth Clarke, Michael Hestletine et al.

    No, we’ve got the mandate. Now let’s implement it.

  30. MartinW
    Posted June 25, 2016 at 6:15 pm | Permalink

    Yes, the legal Article 50 way must be followed: unilaterally breaking a treaty would be most unwise! I would favour a ‘quick-and-dirty’ agreement with the 27 in order to protect trade – i.e. down the EEA/EFTA route (or shadow EEA if EFTA entry is blocked), even if it means the free movement of people. After all, two things are paramount, and must be achieved with the least delay, namely 1) Protection of Trade, and 2) Leaving the EU. (In EEA/EFTA, some additional controls on free movement would anyway be available to us). We must act quickly because of great uncertainties over the future of the EU, and because our exit will act as a catalyst and stiffen the resolve of other countries to leave. Thereafter, who knows? What is clear, though, is that EFTA+UK would wield considerable power, and the UK would again sit on international bodies that increasingly make the rules.

  • About John Redwood


    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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