Why business and the City should speak out against a second referendum

Parliament is deadlocked. The cabinet is split down the middle and Brussels won’t compromise on the deal it has already offered to the Prime Minister. As the clock ticks steadily towards March 29th, there seems little way out of the impasse surrounding our tortured exit from the European Union. No one can agree on how to leave, or how to stay either. Against that backdrop, it is probably no great surprise that a second referendum is gaining momentum. It is at least a way out of the mess, and possibly a more decisive one than any of the alternatives.

Theresa May has spoken out against that today, even if many of her Cabinet ministers are staying strangely silent on the issue. As the debate intensifies over Christmas, business and the City should support her in that stance. Of course many will be tempted to support another vote, and a lot of leading industry and financial leaders have already done so.