Editor’s eye: Why so shocked, Britain?

AS BRITAIN woke up to the news that the public had voted out of the European Union with a 52% majority, the overriding sentiment coming through media channels – both traditional and social – was one of shock.

But how so? Given more than half of the country voted out, why were there not stronger cues that this would be the outcome?

As the polls closed at 10pm last night, even UKIP leader Nigel Farage thought it was all over, reportedly telling Sky News that “it looks like Remain will edge it”.

What a difference a night makes.

The 71.8% turnout rate is something to celebrate in itself. More than 30 million people voted  – the highest turnout at a UK-wide vote since 1992. So whatever your view of the result, it is truely representative and should be respected.

In Scotland and Northern Ireland the majority voted to remain. Those in favour of Scottish independance say the result demonstrates the gap between the views of the Scottish people and the rest of the country.

The result also shows the gap that exists between the general public view and the voice of business across the rest of the country.

Of course I’ve heard many small business voices in favour of leaving,  but the overriding message from the business and professional community in recent weeks has been of the importance of long-term economic stability and certainty.

Today could have been a case of ‘business as usual’ but now the long-term effects are varied, complex and frankly unknown – much of the detail of what an exit really means for the UK economy and its buisnesses is yet to emerge over the coming weeks and months.

Here’s what I do know: at least one company in the region will be backtracking on its plans for a stock market listing and there are other international deals that were on hold until after the referendum which now face a more permanent pause.

Foreign investment into the Northern Powerhouse, particularly by China and the US, will also falter as we are no longer seen as the ‘gateway to Europe’.

Rain or shine, there is one business sector that will always benefit – the professional services. Who else is going to help unravel us from all of that European red tape we can now supposedly cut free?

Close