by Jeremy Warner
To everyone’s relief, the economic impact of the Brexit vote has so far not been as bad as many – including me – feared it might be. Well, perhaps not everyone, for there is nothing quite as galling as to be proved wrong. For many of those who warned of catastrophe, a recession is still greatly to be desired – so as to punish voters for their own stupidity, as it were.
This is a natural enough reaction, but it is not at all constructive, particularly when it comes to business, where success depends on the ability to adapt and respond opportunistically and optimistically to any change in circumstance. It’s still far too early to make firm judgements, obviously, and there have already been a number of not entirely welcome consequences of Brexit, not least a 10 per cent devaluation in the pound, one of the sharpest ever of such losses in relative national wealth. Even so, the early signs are encouraging.