A rotten windfall

It’s strange that, even now, the Brexit vote is routinely referred to as an expression of anger or frustration — as if the most easily baffled half of the population had voted in response to forces they could not understand. In fact, the result of the 23 June referendum seems to look wiser with every week that has passed.

Of course, leaving has its risks. But 52 per cent of voters judged that a greater one lay in staying in a European Union that is changing all the time — and invariably for the worse. The British vision of the world — of free trade, friendly competition and respect for sovereignty — clashed with the EU, which seeks to build a wall around a continent and which is alarmed by the notion of competition, particularly when nation states vie to host the world’s most successful companies.

For years, Ireland has sought to attract global businesses with the most competitive corporation tax on the continent — at 12.5