Well, we final did it! It came as a shock to both ‘remainers’ and ‘leavers’, as don’t think either side were expecting the result. What I do find shocking is not that we voted to leave the European Union (EU) but the fundamental lack of basic understanding  by the political class, who portray to be ‘in the know’,of what this does and may mean for the future of the UK. Compounded by the ignorance of the  media, who are constantly looking for sensationalism (by way of increases viewing figures), which leads to unnecessary scaremongering that ‘we’re all doomed’! Admittedly the financial markets have temporarily fallen, but that was expected. But not as badly as the crisis in 2008. They will recover, as they did then.

I voted to leave. Not for issues of migration or sovereignty but based on economic sense. The European Union has become fortress Europe. It is insular, over regulated and lacking economic growth. Compounding this is its underlying single goal of political and monetary union.  Is it working? Look at its GDP over  the period of its existence, slowly and consistently declining compared to other continents. The next twenty years, which is what the recent referendum was really about, will see economic growth driven by Asia and others. Comprising, more importantly for us, many of the Commonwealth nations, with which we still have commonality. Unshackling ourselves from the behemoth of the European Union  means, most importantly, we wont be further dragged into the political and fiscal mire that will be the undoing of the European project.

Real GDP Growth by continent and decade

Those ‘remainers’ who complain that they now can’t go to live and work in other European member states, that we will no longer be allowed to sell our goods into Europe, that all the European laws will no longer apply and we will now need a visa to go on holiday, are deluded. Brits have, for years before the EU existed in its current form, worked in Europe, goods were sold into Europe, the laws have been formally adopted by Parliament and I can not ever remember requiring a visa to holiday in Italy or France.  As for exporting services, upon which the UK economy relies, if the truth be known, in practical terms, Europe is not a free service market now, nor is it likely to change.

The issue of immigration is the most contentious of all. Those who believe that leaving the European Union will curtail it may be deeply disappointed. Ironically, it may very well increase immigration. But the right type of immigration. The benefit of leaving is that companies, universities, the NHS and other public bodies will be able to recruit those skills that are most required, from the whole world, not just the European Union. It’s people who drive an economy. Being able to attract the internationally best and brightest is the foundation for creating wealth, which in turn stimulates the economy.

We have voted to leave the European Union but we will still be part of the European market. Our trade with it will continue, as it is mutually beneficial to do so, albeit on terms  that may vary. In addition, we are free to pursue the dynamic markets around the world and to create real bilateral economic opportunities, negotiated directly, without having to supplicate 27 other countries.

Those who claim that the ‘leavers’ are ‘ insular little Englanders’ and the ‘remainers’ are internationalists have really got it the wrong way round. Membership of the European Union forces you to be insular, it drives you to only look to Europe and Europeans for partners. Being independent, in a globalised world, makes you look internationally and in turn you become more dynamic and more competitive. These are interesting and exiting times.