reverse Brexit

Who Is Trying to Reverse Brexit?

A reverse Brexit is being pushed but guess which economic class stands to gain from such a repudiation of the popular vote.

Though the vote was clear, some people are lobbying for a new vote hoping to reverse Brexit.

Lobbying Parliament and campaigning takes money, so who is behind this move to reverse Brexit? We already know that none of the warnings of economic decline came true when the leave voters expressed their will at the polls. People didn’t vote for Brexit because they were deceived. They voted for Brexit despite the best efforts of E.U. supporters to fool them and scare them with false fears. More people ought to support Brexit now since none of the horror stories that they were told came true.

So why does anyone want to reverse Brexit?

Here’s one hint from The Telegraph (emphasis added):

Top-end homes in London are struggling to sell in the wake of the Brexit referendum, hitting prices and adding to evidence that the capital’s property market may have peaked for now.

The market for the most expensive homes was already slowing before the June 23 vote and analysts at UBS believe the referendum dented confidence further.

As a result, the number of properties under offer has fallen since the start of July, while the number on the market without such buyer interest has begun to climb, and reversing sharp falls seen earlier in the year.

UBS looked at the ratio of properties listed on the market compared to the number that are sold subject to contracts being exchanged, as an indication of the number of buyers compared with sellers, and the amount of time a property must spend on the market before being sold.

If this trend is being exacerbated by Brexit, it is mainly affecting the wealthiest—properties priced at 1.5 million pounds or more. In the meantime, lower-priced properties have not been affected.

So who is behind the move to reverse Brexit? Likely, it is Britain’s “one percent.”

And despite a headline that placed all the blame on Brexit, the Telegraph article admitted that London’s housing regulations and taxes may be to blame.

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Joe Scudder

Joe Scudder is the "nom de plume" (or "nom de guerre") of a fifty-ish-year-old writer and stroke survivor. He lives in St Louis with his wife and still-at-home children. He has been a freelance writer and occasional political activist since the early nineties. He describes his politics as Tolkienesque.

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