BREXIT

IT was twenty-five years ago to the day, on September 16, 1992, when Britain crashed out of the European Exchange Rate Mechanism (ERM) – the prelude to the euro. John Major’s government was humiliated, the pound was devalued overnight by 15 per cent and most economists predicted a protracted slump.

Yet, what happened? The lower pound led to a surge in exports and just three years later the economy was booming.

Following the Brexit result, a similar devaluation of pound sterling has happened and all the indicators are that it’s having the same effect, with figures published over the last few days showing that exports have risen by 9 per cent in the last year.

Despite this, not a day goes by that the BBC, Financial Times or Confederation of British Industry don’t paint an apocalyptic picture of Britain’s future outside the EU. These organisations are constantly talking this country down at the very time it’s crucial we should be showing unity.

For people like Sir James Dyson, arguably Britain’s greatest living entrepreneur, and for many other dynamic business leaders, Brexit is not a problem. It’s a massive opportunity.