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A petition calling for changes to the referendum process , which would precipitate a second one on the UK’s EU membership , has become the fastest petition on parliament.uk to reach the 100,000 signature threshold that requires it to be considered for debate by MPs.
The petition has attracted 119,037 signees at the time of writing, and a response from the Home Office will come in due course.
Don’t expect too much, though, given how quickly the government shut down last year’s petition to legalise cannabis .
5 things we learned from a night that shook Europe The latest one asserts that a second referendum is required if the result of the first is less than 60% in favour of either side based on a turnout of less than 75%.
Show all 6 1 /66 ways Britain leaving the EU will affect you 6 ways Britain leaving the EU will affect you More expensive foreign holidays The first practical effect of a vote to Leave is that the pound will be worth less abroad, meaning foreign holidays will cost us more
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6 ways Britain leaving the EU will affect you No immediate change in immigration status The Prime Minister will have to address other immediate concerns. He is likely to reassure nationals of other EU countries living in the UK that their status is unchanged. That is what the Leave campaign has said, so, even after the Brexit negotiations are complete, those who are already in the UK would be allowed to stay
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6 ways Britain leaving the EU will affect you Higher inflation A lower pound means that imports would become more expensive. This is likely to mean the return of inflation – a phenomenon with which many of us are unfamiliar because prices have been stable for so long, rising at no more than about 2 per cent a year. The effect may probably not be particularly noticeable in the first few months. At first price rises would be confined to imported goods – food and clothes being the most obvious – but inflation has a tendency to spread and to gain its own momentum
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6 ways Britain leaving the EU will affect you Interest rates might rise The trouble with inflation is that the Bank of England has a legal obligation to keep it as close to 2 per cent a year as possible. If a fall in the pound threatens to push prices up faster than this, the Bank will raise interest rates. This acts against inflation in three ways. First, it makes the pound more attractive, because deposits in pounds will earn higher interest. Second, it reduces demand by putting up the cost of borrowing, and especially by taking larger mortgage payments out of the economy. Third, it makes it more expensive for businesses to borrow to expand output
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6 ways Britain leaving the EU will affect you Did somebody say recession? Mr Carney, the Treasury and a range of international economists have warned about this. Many Leave voters appear not to have believed them, or to think that they are exaggerating small, long-term effects. But there is no doubt that the Leave vote is a negative shock to the economy. This is because it changes expectations about the economy’s future performance. Even though Britain is not actually be leaving the EU for at least two years, companies and investors will start to move money out of Britain, or to scale back plans for expansion, because they are less confident about what would happen after 2018
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6 ways Britain leaving the EU will affect you And we wouldn’t even get our money back All this will be happening while the Prime Minister, whoever he or she is, is negotiating the terms of our future access to the EU single market. In the meantime, our trade with the EU would be unaffected, except that companies elsewhere in the EU may be less interested in buying from us or selling to us, expecting tariff barriers to go up in two years’ time. Whoever the Chancellor is, he or she may feel the need to bring in a new Budget
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While Remain voters may crave another bite at the cherry, it’s unlikely the government will listen to the pleas, which are not dissimilar from rolling a one on a dice and then saying that you deserve another roll.
During his resignation speech , Prime Minister David Cameron said that, though it landed against him too, the result must be respected and the decision to exit the EU upheld. He has yet to set a timeframe for it.
Almost half the country did not want to leave the EU and this must be addressed, with London Mayor Sadiq Khan this morning saying that “we all have a responsibility to now seek to heal the divisions that have emerged throughout this campaign - and to focus on that which unites us, rather than that which divides us."
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