The City’s lack of strategic nous when it comes to Brexit

Posted on

One of the most surprising features of Brexit has been the absence of business comment. Seeking to rival Labour in their policy indifference to the whole Brexit issue, business has taken a back seat throughout much of the Brexit debate despite the significance of the issue to it. Now the FT reports:

Some senior financiers are advocating a “people’s vote” on Theresa May’s Brexit deal, exposing a sharp split with much of the City of London, which last week backed the prime minister’s blueprint for Britain’s relationship with the EU.

Half a dozen leading figures told the FT City Network, a panel of more than 50 representatives from finance, business and policymaking, that Brexit had essentially been mis-sold to the British public. A second vote was crucial if Mrs May’s deal failed to secure parliamentary backing next month, they said.

Too little, too late, business seems to have noticed that maybe it should have had something to say and that the Tory view of their economic interests is not one they should rely on. The lack of strategic nous is what is really noticeable. I still, for obviously mistaken reason, think these people should possess it. Silly me.