Keep calm and carry on?
by Andrew Sentance
The Referendum decision to leave the European Union will have come as a shock to many in the business world. Surveys showed that 70-80pc of business executives were in favour of staying in the EU.
Exports to other EU countries account for nearly half of our overseas sales. And a great deal of investment has flowed into the UK because of our position inside the European Single Market.
Leaving the EU poses a potential threat to these trade and investment flows. A week on from the decision, it is very difficult to make an assessment about what will happen next. The resignation of the Prime Minister has triggered a leadership election in the Conservative Party.