Vince Cable: Brits Are Already Feeling The Side Effects Of Brexit

21 July 2017, 10:56 | Updated: 21 July 2017, 18:12

Britain is already beginning to see the negatives of leaving the European Union, Sir Vince Cable has told LBC.

The new Liberal Democrat leader said businesses are no longer investing in the country because they have “very little confidence” in the UK’s future outside the bloc.

He added that his party’s pro-EU message had come “too early”, insisting voters would “take a different view” once people realise the “effect” Brexit will have on their living standards.

This led Matt Frei to question whether Sir Vince was hoping things in the country would get bad just to “prove a point about Brexit”.

“Of course not,” Sir Vince replied. “I’m hoping things will turn out well.

“My priority for now is to work with people in other parties, Tories, Labour people who want us to get a good result, who want to keep the good things about European cooperation that matter to our living standards, to our long term future.

“The single market, the customs union and cooperation on research and environmental standards.”

However, as Britain and the EU remain at odds over the rights of EU citizens and the amount Britain will have to pay to leave, Sir Vince added “all the signs at the moment are this is not turning out well”.

He continued: “Living standards are already being compressed because of the big devaluation that followed the vote.

“Companies are not investing because they have very little confidence in the future, they don’t know what is going to happen and this is feeding its way through into people’s living standards.”