We were delighted to host ITV’s Political Editor, Robert Peston at Allsop, where he shared some hard, but interesting Robert truths about Brexit. It’s not all doom and gloom, but it is uncertain. Here is a quick recap of some of his key points.
Brexit – how we got here
Robert explained how a perfect storm of the impact of globalisation on jobs, stagnant wages, particularly those within lower income brackets, combined with poor productivity levels, exacerbated by quantitative easing has created an element of society feeling disenfranchised and disconnected.
Robert highlighted how the rise of social media platforms and how they were being used to spread fake news and allow organisations to send persuasive and targeted digital messages to swing voters contributed to the vote to Leave. Much of the Leave campaign fund was spent on advertisements on digital platforms to appeal to an emerging and influential demographic.
A series of strategic events from the moment May took over from David Cameron has meant that we are now embarking on leaving the EU without knowing or having a vision of what a future trade deal with the EU will look like.
The possible impact of a second referendum
The consequences of a second referendum could be severe, according to Robert. Not only could this lead to a split in the Conservative Party, a division not seen since Robert Peel’s Corn Laws were repealed in 1846 created two new parties, but also cement the view among disenfranchised voters, that they are being ignored by the current system.
It’s not all bad
This Government, he said, has done something right. Chancellor Philip Hammond’s balancing of the books has helped to create a fiscal cushion for the country, should we leave this month or in June without a deal. This cushion will give the Chancellor some room should this happen and help to alleviate the impact of a no-deal scenario.
Watch our exclusive ‘One minute with Robert Peston’ video takeaways