John Major: we need to revoke Article 50 with immediate effect

Whether a “Remainer” or a “Leaver”, no-one welcomes chaos. So it is time for everyone to reflect and consider. Time to turn to reality – not fiction. Reason – not ideology. We need to calm the markets. We need to protect the economic wellbeing of the British people. We need to protect our national interest. There is absolutely no doubt in my mind that – to do so – we need to revoke Article 50 with immediate effect. The clock must be stopped. It is clear we need the most precious commodity of all: time.

Wherever one looks, a new world is forming: it is vigorous, and often contemptuous of old thinking. For a long time democracy, free trade, and the spread of liberal politics seemed unstoppable: we now know they were not. This illustrates a new dilemma for Britain – and for Europe. For decades, Britain’s overseas presence has been boosted by our close relationship with America, and our membership of the European Union.