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clear result on the part of the British people, and that must always | :00:00. | :00:00. | |
have been foreseen by the Government were named Mark drafted that | :00:00. | :00:10. | |
manifesto, so I don't think that another referendum is necessary at | :00:11. | :00:15. | |
all -- another Prime Minister. 37,000 on the bottom right of the | :00:16. | :00:19. | |
screen there, that is what is needed for victory for the Leave campaign. | :00:20. | :00:23. | |
And I think we have just reached that point. There we are, that is | :00:24. | :00:30. | |
now statistically, mathematically there that the leave campaign have | :00:31. | :00:35. | |
won, and we are expecting at the end of the count 52% of the Leave, 48% | :00:36. | :00:40. | |
for Remain. Quite an extraordinary moment. Not in terms of the way | :00:41. | :00:46. | |
people voted, because all the way through people have said it was a | :00:47. | :00:50. | |
close run thing, but in terms of a turnaround from British foreign | :00:51. | :00:55. | |
policy, British policy towards the EU, British internal policy, British | :00:56. | :00:58. | |
policy on immigration, everything now is up for change, because of | :00:59. | :01:02. | |
this decision, and however you look at it, it is an earthquake that has | :01:03. | :01:06. | |
happened, and what happens after earthquakes? We wait to see. From | :01:07. | :01:11. | |
your point of view, you are quite confident? Fantastic news! | :01:12. | :01:17. | |
Absolutely brilliant for the United Kingdom. It is superb. Amelie? In | :01:18. | :01:26. | |
Northern Ireland they voted 56% to remain, and now they are going to | :01:27. | :01:29. | |
have a border between Northern Ireland and the South. The security | :01:30. | :01:33. | |
indications are that have yet to be worked through. The indications for | :01:34. | :01:37. | |
that for the peace process have yet to be worked through. And what is | :01:38. | :01:41. | |
odd as well in Northern Ireland is of course the politicians were all | :01:42. | :01:45. | |
arguing that they should go, the people of Northern Ireland of | :01:46. | :01:49. | |
whatever background they came from have voted to remain, I think it is | :01:50. | :01:54. | |
game to be a very difficult situation there, and that is going | :01:55. | :01:56. | |
to be our border with the European Union, that is where if anybody | :01:57. | :02:00. | |
wants to coming to Britain, and one of the things you are talking about | :02:01. | :02:04. | |
was taking control of our borders, how can we take control of that | :02:05. | :02:07. | |
border? That is another question that we will need to be asking | :02:08. | :02:09. | |
today. Let's see the figures on the sunlit | :02:10. | :02:25. | |
House of Commons. The Leave campaign on... | :02:26. | :02:46. | |
We're joined by Liam Fox, one of those who was campaigning all along | :02:47. | :02:53. | |
for a Tainio vote. Former Defence Secretary. Dr Fox, what would you | :02:54. | :02:59. | |
like to see happening now? First, to have a period of Sam Cam so that | :03:00. | :03:04. | |
people can understand that it is not, as the papers say this morning, | :03:05. | :03:09. | |
that we are out. It's going to be some time before we leave the | :03:10. | :03:12. | |
European Union, and we will a period where we can disentangle ourselves. | :03:13. | :03:17. | |
We want to leave on good terms, we want to cooperate where it is in our | :03:18. | :03:20. | |
mutual interest to do so. And we need to have a period of stability. | :03:21. | :03:26. | |
To that end, I would like to see the Prime Minister today announced that | :03:27. | :03:31. | |
he will be staying on, so that we do not add political instability into | :03:32. | :03:34. | |
the mix. So what you're saying, we've not left, it's just that we | :03:35. | :03:36. | |
have announced that we want to leave? That's technically correct. | :03:37. | :03:44. | |
But the Prime Minister has said that he would implement article 50, the | :03:45. | :03:48. | |
withdrawal procedure, immediately, if there was a vote to leave. You | :03:49. | :03:51. | |
think perhaps he should not do that? A lot of things were said in advance | :03:52. | :03:56. | |
of this referendum that we might want to think about again, and that | :03:57. | :04:00. | |
is one of them. I think that it does not make any sense to trigger | :04:01. | :04:03. | |
Article 50 without having a period of reflection first for the Cabinet | :04:04. | :04:08. | |
to determine exactly what it is that we're going to be seeking, and in | :04:09. | :04:14. | |
what timescale. And then you have to also consider what is happening with | :04:15. | :04:18. | |
the French elections, and the German elections next year and the | :04:19. | :04:21. | |
implications at that might have for them. So, a period of reflection to | :04:22. | :04:31. | |
let it sink in and work out the technicalities. But Nigel Farage and | :04:32. | :04:36. | |
his supporters and many of those who voted to leave will surely be | :04:37. | :04:40. | |
expecting something more than a period of calm reflection while you | :04:41. | :04:44. | |
decide whether to invoke the procedure to leave. I mean, they are | :04:45. | :04:47. | |
expecting action, this day?! Well, we will not getting action this day, | :04:48. | :04:54. | |
I would not think, on pretty much any front. Because I think we have | :04:55. | :04:59. | |
all understood that Article 50 purposely gives us a window of two | :05:00. | :05:05. | |
years to try to sort out these problems. We will have a number of | :05:06. | :05:08. | |
legislative questions to ask ourselves. What is clear is that we | :05:09. | :05:12. | |
have now decided to change the course of our history. And I hope to | :05:13. | :05:16. | |
also change the course of European history. The British people have | :05:17. | :05:21. | |
taken a courageous view, which to say that managed decline in a | :05:22. | :05:26. | |
failing entity of the EU is not to be our destiny. I am just | :05:27. | :05:34. | |
overwhelmed by the moment here. It is of enormous historical impact. | :05:35. | :05:40. | |
How long can you go on paying ?350 million a week, which was on the | :05:41. | :05:44. | |
side of your battle bus, to the EU, once the British people have decided | :05:45. | :05:49. | |
they don't wish to pay ?350 million a week? We will still be required to | :05:50. | :05:53. | |
fulfil these obligations that we have under our current negotiations | :05:54. | :05:59. | |
until such a time as we leave. Shouldn't you crack on and speed it | :06:00. | :06:03. | |
up and get it done and dusted as soon as possible? Of course, if we | :06:04. | :06:07. | |
can get it done under the article 50 agreement more quickly, then that | :06:08. | :06:12. | |
would be great, if we could come to mutual agreements on things like | :06:13. | :06:15. | |
trade and security arrangements, that would be wonderful. And I think | :06:16. | :06:19. | |
there is a very strong incentive to do so. It is in the interests of | :06:20. | :06:25. | |
both the other countries in the European Union and now Britain, as | :06:26. | :06:28. | |
we will be, outside the European Union, to maximise our co-operation. | :06:29. | :06:33. | |
I have always wanted that co-operation, I just did not want to | :06:34. | :06:37. | |
be governed by them. I do not quite understand how you see the Prime | :06:38. | :06:41. | |
Minister, who fought so hard on the other side, suddenly changing and | :06:42. | :06:46. | |
saying, oh, I see, that is what you want - right, this is how I will | :06:47. | :06:51. | |
negotiate that. He went to Brussels, he had a negotiation which you said | :06:52. | :06:55. | |
was a failure, and which you will say was part of the reason why he | :06:56. | :06:59. | |
did not win the referendum - how can he then act as though this was what | :07:00. | :07:04. | |
he wanted all along - I will now take charge and this is how we will | :07:05. | :07:08. | |
do it? I would perfectly understand if the Prime Minister felt very | :07:09. | :07:13. | |
bruised after this result. He urged for one course of action and the | :07:14. | :07:16. | |
public chose another. But that's democracy, and especially true in a | :07:17. | :07:21. | |
referendum, which is very binary. I think there is a very strong | :07:22. | :07:28. | |
instinct in David Cameron which understands the duty of public life. | :07:29. | :07:32. | |
While it might be uncomfortable for him, I think it is for the stability | :07:33. | :07:36. | |
of the government and the good governance of the UK that we get | :07:37. | :07:40. | |
political continuity at least until we are well into that negotiation. | :07:41. | :07:45. | |
I'm sure that will not be an easy decision for him, but I would urge | :07:46. | :07:48. | |
him to do what his instincts tell him, and to maintain that stability | :07:49. | :07:55. | |
so that we can get into this process with the least turbulence possible. | :07:56. | :08:03. | |
Dr Fox, thank you very much. Jeremy, shall we have a look at the story | :08:04. | :08:07. | |
which has now unfolded, for people who have just joined us, to see what | :08:08. | :08:11. | |
it is that happened this evening and last night as the results were | :08:12. | :08:17. | |
counted? It started eight hours ago. It seems like a lifetime ago. | :08:18. | :08:21. | |
Doubtless the mind behind that door of No 10 has some serious questions | :08:22. | :08:25. | |
to answer about what he does next, as Dr Fox was saying. Let's go back | :08:26. | :08:34. | |
to the start of the night, and very, very early result which rang lots of | :08:35. | :08:39. | |
warning bells for the Remain campaign, and that was Newcastle. It | :08:40. | :08:45. | |
did vote to remain, but only just. It was supposed to go quite | :08:46. | :08:50. | |
substantially for Sokolik. So immediately we were seeing the | :08:51. | :08:56. | |
Tainio vote much stronger than we thought, and that was around | :08:57. | :08:59. | |
midnight. That was followed by Swansea, which was interesting, | :09:00. | :09:05. | |
because we had that down as likely to remain, but Swansea voted to | :09:06. | :09:08. | |
leave. So the results really started to worry the Remain side from the | :09:09. | :09:13. | |
early stage. It look for a while that London might come to the rescue | :09:14. | :09:19. | |
of Remain. Lambeth reporting an extraordinary majority, something | :09:20. | :09:23. | |
like driven percent, to remain. Other parts of London going strongly | :09:24. | :09:26. | |
enough for the yellow side, but not strong enough to overtake the | :09:27. | :09:34. | |
Leaves. Sheffield, Durham, Birmingham, we had next. 3.25 in the | :09:35. | :09:37. | |
morning, Sheffield comes in. Here we are. And this was a sign of things | :09:38. | :09:43. | |
to come - that cities outside London which we thought might have edged to | :09:44. | :09:48. | |
remain, actually went Leave. Durham was a classic 50-50. We thought it | :09:49. | :09:57. | |
might be close but in fact, it went Leave, which was a sign that the | :09:58. | :10:02. | |
country was going Leave. And then Birmingham, in the end, they | :10:03. | :10:07. | |
cancelled each other out and we got a blue Leave from there as well. | :10:08. | :10:11. | |
Finally, Northumberland took us over the line. Leave coming first. No way | :10:12. | :10:18. | |
back for Remain. In the end, their powerful areas, London and in | :10:19. | :10:22. | |
particular, did not bring forward enough votes to conquer Leave, who | :10:23. | :10:28. | |
had extraordinary turnout and resilience in places all around the | :10:29. | :10:31. | |
country, particularly England - and Wales as well. It leaves some real | :10:32. | :10:36. | |
questions for the man who called the referendum and took that huge | :10:37. | :10:40. | |
gamble. Thank you very much. If you have just joined us, the referendum | :10:41. | :10:46. | |
result is that 52% of the country voted to leave, 48% voted to stay. | :10:47. | :10:53. | |
So the decision was absolutely clearly that the people of this | :10:54. | :10:57. | |
country, by a majority of 4%, in effect, want to leave the EU. That | :10:58. | :11:02. | |
has all sorts of ramifications, which we will go into later on. At | :11:03. | :11:07. | |
this point let's have a catch up on the news and weather. Thank you. | :11:08. | :11:14. | |
Good morning. Britain has voted to leave the European Union. The Leave | :11:15. | :11:20. | |
campaign has so far taken 52% of the vote. It is now impossible for | :11:21. | :11:23. | |
Remain to overtake it. There have been strong wins for Leave in the | :11:24. | :11:32. | |
north of England and in the Midlands. This report by Eleanor | :11:33. | :11:36. | |
Garnier kins with the moment the BBC announced its prediction. | :11:37. | :11:43. | |
Well, at 20 minutes to five, we can now say the decision taken in 1975 | :11:44. | :11:47. | |
by this country to join the Common market has been reversed by this | :11:48. | :11:54. | |
referendum, to Leave the EU. We are absolutely clear now that there is | :11:55. | :11:57. | |
no way that the soccer league side can win... | :11:58. | :12:05. | |
Watch and listen carefully - this is history in the making. The answer | :12:06. | :12:12. | |
is, we are out. And these were the celebrations just moments before the | :12:13. | :12:17. | |
BBC called the result. This will be a victory for real people, a victory | :12:18. | :12:23. | |
for ordinary people, a victory for decent people! With the pound | :12:24. | :12:29. | |
plunging, Remain campaigners warned of turmoil ahead. This is a | :12:30. | :12:35. | |
crushing, crushing decision. It is a terrible day for Britain and a | :12:36. | :12:40. | |
terrible day for Europe, with immense consequences. This moment, | :12:41. | :12:47. | |
this is a seismic moment for our country, which goes far beyond all | :12:48. | :12:50. | |
of the personalities. We are talking about what happens to David Cameron | :12:51. | :12:54. | |
- this is a big thing for our country. What this has exposed is a | :12:55. | :12:58. | |
lot of division. This is not an overwhelming win. There's 40 -- 48% | :12:59. | :13:07. | |
of people on the current prediction who did not vote for this. Across | :13:08. | :13:13. | |
the north-east, results soon showed Leave doing consistently better than | :13:14. | :13:19. | |
predicted. A big win in Hartlepool, and whooshing Remain into a narrow | :13:20. | :13:27. | |
victory in Newcastle. A much smaller win than expected. Away from the | :13:28. | :13:32. | |
north of England, in Basildon in Essex, another big win for Leave. | :13:33. | :13:39. | |
And another account with a big turnout, at 74%. And in Flintshire, | :13:40. | :13:45. | |
just as across the rest of Wales, voters backed Brexit. But Scotland | :13:46. | :13:52. | |
voted emphatically to stay in the EU, though the overall result will | :13:53. | :13:56. | |
lead to renewed calls for a second referendum on Scottish independence. | :13:57. | :14:02. | |
And London, as predicted, was a stronghold for Remain. But Britain | :14:03. | :14:07. | |
has voted to leave the European Union, to tear up the settlement the | :14:08. | :14:11. | |
country has had for decades, unleashing perhaps huge opportunity, | :14:12. | :14:21. | |
or perhaps huge risk. Perhaps both. The results have upset the world's | :14:22. | :14:26. | |
financial markets, with the pound falling to its lowest point since | :14:27. | :14:33. | |
1985. When the polls closed, it soared to $1.5, but as it showed | :14:34. | :14:38. | |
stronger than expect you to support for leaving the EU, it began to | :14:39. | :14:44. | |
plummet. Markets in Asia are down nearly 3%. Scotland's First | :14:45. | :14:48. | |
Minister, Nicola Sturgeon, has suggested the vote will reignite | :14:49. | :14:53. | |
demands for an independence referendum there. All 32 authorities | :14:54. | :14:58. | |
returned decisions to Remain. She said it showed that it was clear | :14:59. | :15:02. | |
that the people of Scotland saw their future as part of the European | :15:03. | :15:07. | |
Union. Sinn Fein says a British vote to leave the EU intensifies the case | :15:08. | :15:11. | |
for a vote on whether Northern Ireland should leave the United | :15:12. | :15:14. | |
Kingdom. The comments from the largest Irish nationalist party | :15:15. | :15:17. | |
followed a result which saw 11 of the 18 constituencies voting to stay | :15:18. | :15:22. | |
in the European Union. That is the latest for you. More coming up in a | :15:23. | :15:26. | |
few moments. Let's have a look at the weather. | :15:27. | :15:33. | |
A beautiful picture sent in this morning. Some of us had torrential | :15:34. | :15:40. | |
rain across the south-east yesterday. Today, a lot of sunshine, | :15:41. | :15:47. | |
but showers already in the north and west will develop further and | :15:48. | :15:50. | |
intensify as we go through the course of the day. By the afternoon, | :15:51. | :15:56. | |
some of the showers across Scotland will be heavy and thundery, but in | :15:57. | :16:01. | |
between, sunshine. It is the same across Northern Ireland and | :16:02. | :16:04. | |
north-west England, showers with hail and thunder. In Wales, we could | :16:05. | :16:10. | |
see the same as in the south-west. In between these showers, sunshine. | :16:11. | :16:18. | |
Dry conditions as we push into the south-east. Many of the showers will | :16:19. | :16:23. | |
fade, we will hang on to some in the North and West, and we will have | :16:24. | :16:27. | |
some clear skies, but it will not be cold. As we head into tomorrow, they | :16:28. | :16:34. | |
will cease showers, a different this division. In the West, something a | :16:35. | :16:37. | |
bit brighter. Thank you. The art into a new world, | :16:38. | :16:51. | |
if you have just joined us, a new day has dawned in Britain. We will | :16:52. | :17:01. | |
be talking to Diane and Daniel in a moment, but first, in case you have | :17:02. | :17:08. | |
missed the story, the referendum led to those who wish to leave winning | :17:09. | :17:16. | |
by 4%. There have been various from applications, not least in the value | :17:17. | :17:21. | |
of the pound and in the markets, not just the currency markets but the | :17:22. | :17:29. | |
markets generally. What news do you have, what plans do they have at the | :17:30. | :17:33. | |
Bank of England? Have they been up all night? Good morning. They are up | :17:34. | :17:43. | |
and ready, I have seen a few people heading into the Bank of England | :17:44. | :17:46. | |
behind me. In the run-up to this referendum the governor Mark Carney | :17:47. | :17:51. | |
said that the biggest immediate risk to global markets was the UK leaving | :17:52. | :17:57. | |
the EU. And they would do whatever action is necessary to reassure | :17:58. | :18:01. | |
people and keep things like inflation under control. We know | :18:02. | :18:06. | |
that Mark Carney is now preparing to speak, he says he will not speak | :18:07. | :18:10. | |
until after David Cameron has spoken, but it will not be long | :18:11. | :18:14. | |
before he will be telling us what the plans are for the Bank of | :18:15. | :18:19. | |
England. There are two big issues, one is around the volatility in the | :18:20. | :18:22. | |
markets, which we have seen overnight, the pound dropping so | :18:23. | :18:30. | |
much could mean that inflation starts to head up as import prices | :18:31. | :18:34. | |
become more expensive, it could put up the price of goods here. The Bank | :18:35. | :18:43. | |
of England has a target of 2% on inflation, if it goes over, it could | :18:44. | :18:47. | |
increase interest rates. There are other concerns, we are in a lot of | :18:48. | :18:53. | |
debt, so interest rates could hit hard on the economy. We are also | :18:54. | :18:58. | |
hearing Nigel Farage say that this is good news for exporters. For a | :18:59. | :19:02. | |
long time they have had it tough while the pound has been so high, so | :19:03. | :19:07. | |
it will be good news for them. The banking stability is another issue. | :19:08. | :19:13. | |
Remember 2008, the Bank of England had to intervene with quantitative | :19:14. | :19:18. | |
easing, pumping more money into the system to make sure banks could | :19:19. | :19:23. | |
borrow and lend and keep the economy going. We are waiting to hear, but | :19:24. | :19:29. | |
it will not be long before we hear from Mark Carney, we will head into | :19:30. | :19:33. | |
his office to hear what he has to say. How do they detect whether this | :19:34. | :19:40. | |
is just a panic reaction? We know markets are volatile, they get a bit | :19:41. | :19:45. | |
of bad news, they tumble, then good news, and goes up again, it is | :19:46. | :19:50. | |
people trading fast to make a profit. Are these substantial falls | :19:51. | :19:58. | |
that will be sustained? As you saw last night, when we thought we would | :19:59. | :20:04. | |
be staying in the EU, the pound headed up, it hit 1.5 against the | :20:05. | :20:13. | |
dollar. It has pound since then. On a day-to-day basis we see the | :20:14. | :20:17. | |
markets go up and down quite a lot, it is hard to get a picture in terms | :20:18. | :20:22. | |
of when this might become stable. It is unlikely the Bank of England will | :20:23. | :20:25. | |
take action straightaway on trying to stabilise the currency markets, | :20:26. | :20:29. | |
they will wait to see if it settles over the next few days, but it is | :20:30. | :20:34. | |
more issues around reassurance, that they have a plan and they want to | :20:35. | :20:39. | |
reassure people that the financial sector will not go to ruin because | :20:40. | :20:45. | |
of what is happening now. We will keep up with you. If you get to the | :20:46. | :20:51. | |
governor's office, will you have cameras in their? He will make a | :20:52. | :20:57. | |
public statement? Excellent, we will keep it going. This is a comment | :20:58. | :21:02. | |
from the German Foreign Minister, the news from the UK is sobering, it | :21:03. | :21:04. | |
looks like a sad day for Europe. Let's get reaction in the early | :21:05. | :21:17. | |
morning sunlight to what has happened overnight here. It is a | :21:18. | :21:25. | |
very sunny day here, but the outlook is far from it. This is a country | :21:26. | :21:31. | |
waking up in shock. The main priority is what happens to be | :21:32. | :21:34. | |
nearly 1 million Polish nationals living in the UK. They make up the | :21:35. | :21:39. | |
largest non-British national group in the UK. What happens to their | :21:40. | :21:46. | |
status? What happens to their jobs, their freedom of movement, the | :21:47. | :21:49. | |
ability of their children to go to school? There are so many questions | :21:50. | :21:57. | |
at the moment, it has been very strange, watching the events unfold, | :21:58. | :22:00. | |
because there is a palpable state of unease. Yesterday the news bulletins | :22:01. | :22:07. | |
and newspapers covered this story, what was happening in the UK, and | :22:08. | :22:10. | |
the main point was, keep your fingers crossed. Government | :22:11. | :22:17. | |
ministers, opposition politicians, saying, keep your fingers crossed | :22:18. | :22:22. | |
for the UK, they wanted the UK to remain, because they have so many of | :22:23. | :22:25. | |
their nationals in the UK. What happens to them is of their ultimate | :22:26. | :22:31. | |
concern. A sense of shock. We are waiting for official reaction. | :22:32. | :22:38. | |
During this campaign and the freshers argument that has gone on, | :22:39. | :22:46. | |
I cannot think that any Brexiter said that the Polish people | :22:47. | :22:49. | |
currently in the UK would be expelled. It is controlling new | :22:50. | :22:57. | |
immigration. On that basis, there should be no fears for the million | :22:58. | :23:01. | |
or so Polish people who are living and working here now. The point is | :23:02. | :23:10. | |
they feel unwelcome. It was such a ferocious debate, they feel now | :23:11. | :23:18. | |
unwelcome, apprehensive. There are many polls who will stay in the UK, | :23:19. | :23:23. | |
and it will take time for any negotiations are made as to what | :23:24. | :23:27. | |
happens to their status, but the feeling is, why did this happen? | :23:28. | :23:32. | |
Were they because of this? What is also a question that I was hearing | :23:33. | :23:39. | |
here is, this was a decision that was going to affect so many Polish | :23:40. | :23:44. | |
people, in the UK, in this country, Poland is one of the biggest | :23:45. | :23:48. | |
beneficiaries of the EU budget, but this decision was taken completely | :23:49. | :23:53. | |
out of their hands. There was a sense of uselessness. A sense of the | :23:54. | :24:02. | |
inability of making a decision, because it was out of their hands, | :24:03. | :24:09. | |
and it affects so many people. I am joined at this table by Diane | :24:10. | :24:15. | |
Abbott, the Labour MP for Hackney and, shadow international develop | :24:16. | :24:21. | |
meant secretary, and Daniel Hannon, Conservative MEP for south-east | :24:22. | :24:25. | |
England, since 1999. Not for much longer. You don't know that. That is | :24:26. | :24:34. | |
true. About this campaign and what we have been hearing about the | :24:35. | :24:41. | |
outcome, how much do you think it was a narrow issue of the EU which | :24:42. | :24:48. | |
radio's which you were campaigning on and how much was it about wages | :24:49. | :24:52. | |
being flat, too much immigration, other issues, that you got on your | :24:53. | :24:58. | |
side and direct towards leaving the EU, without it being that specific | :24:59. | :25:04. | |
issue? What was specific was what was on the ballot paper. That is the | :25:05. | :25:09. | |
one clear mandate that we have. Although we now have a clear verdict | :25:10. | :25:15. | |
from the British people, which I am delighted about, I feel proud to be | :25:16. | :25:22. | |
British today, we stood up to the threats, we should also take account | :25:23. | :25:26. | |
of the fact that 48% of our fellow countrymen voted to remain. In | :25:27. | :25:31. | |
implementing the verdict, we need wherever possible to try to build a | :25:32. | :25:34. | |
consensus to try to carry people with us. We need to recognise that | :25:35. | :25:39. | |
two of the four constituent nations of the UK voted to remain, and need | :25:40. | :25:45. | |
to give due weight to their voices. We do not want to act considered a | :25:46. | :25:50. | |
sleek, we want to act with consent and agreement of our European | :25:51. | :25:55. | |
allies. Reclaiming our laws does not mean walking away from our friends | :25:56. | :25:59. | |
in Europe, we will be constructively engaged, but on the basis of | :26:00. | :26:05. | |
repatriating. You did not think the markets would be spooked, but it | :26:06. | :26:09. | |
looks as if they are. They were spooked by some of the aggressive | :26:10. | :26:12. | |
talk we had during the campaign about bombs under the economy. Once | :26:13. | :26:17. | |
people realised that what we are talking about is a phased | :26:18. | :26:23. | |
repatriation, a cumulative recovery of power, within the context of | :26:24. | :26:26. | |
continuing free trade with Europe, nobody is talking about barriers and | :26:27. | :26:32. | |
tariffs, you will not find anybody doing so on the other side either, | :26:33. | :26:38. | |
85% of our economic relations with the EU will remain in place, and | :26:39. | :26:43. | |
when Brexit takes effect, that will be the beginning of when we start | :26:44. | :26:45. | |
applying some of the more burdensome regulations. When the markets | :26:46. | :26:52. | |
understand that, this present over reaction will quickly be reversed. | :26:53. | :26:56. | |
Many people voting to leave will have been persuaded by you'll | :26:57. | :27:03. | |
advertisement on the side of your bus, that we send ?350 million a | :27:04. | :27:09. | |
week to the EU, and that could be spent on the NHS and other things. | :27:10. | :27:12. | |
How long will it take before the money is repatriated? It won't be | :27:13. | :27:19. | |
next week or next year. Getting out of the EU is some think we need to | :27:20. | :27:25. | |
get right, we have been in for 43 years, I am happy to wait if that | :27:26. | :27:29. | |
means getting the terms of exit favourable to us and fair to our | :27:30. | :27:33. | |
allies on the continent. We should not rush into it for the sake of it, | :27:34. | :27:38. | |
we need a settlement that is durable, fair to our allies, shows | :27:39. | :27:42. | |
that we are still engaged, we are military allies, but allows us to | :27:43. | :27:48. | |
begin to take back power. The vast majority of people who just voted to | :27:49. | :27:51. | |
leave and who I have spent the last four months with, they understand | :27:52. | :27:57. | |
that. What they wanted was to bring back control. People are grown-up, | :27:58. | :28:02. | |
they understand this is not something that can be done tomorrow. | :28:03. | :28:05. | |
How long before a British Government can say they do have the method or | :28:06. | :28:11. | |
the weaponry for controlling immigration and will reduce it, like | :28:12. | :28:18. | |
they did Cameron promised to the tens of thousands? Were that happen | :28:19. | :28:25. | |
or is that postponed? Nobody has suggested there will be no | :28:26. | :28:27. | |
immigration, and thank you for making the point about the status of | :28:28. | :28:32. | |
EU nationals, there will be EU nationals watching now, I want to | :28:33. | :28:37. | |
underline, nobody has suggested any change in their status, the only | :28:38. | :28:41. | |
change is they no longer vote at European or local elections. Tonnes | :28:42. | :28:46. | |
of migration from the EU, the one thing we can change is we will no | :28:47. | :28:51. | |
longer be citizens of the EU. Citizenship of the EU gives you a | :28:52. | :28:56. | |
legal entitlement to reside and vote in another country and the right to | :28:57. | :29:00. | |
be treated the same way as a national of that country for the | :29:01. | :29:03. | |
purposes of things like university tuition fees welfare claims, and so | :29:04. | :29:10. | |
on that will change, but if people watching think that they have voted | :29:11. | :29:13. | |
and there will be zero immigration from the EU, they will be | :29:14. | :29:18. | |
disappointed, of course there will still be immigration, people coming | :29:19. | :29:22. | |
here to work, and you will look in vain for anything that the Leave | :29:23. | :29:26. | |
campaign said that the suggested there would be any kind of border | :29:27. | :29:32. | |
closure. All we are asking for is some control over roughly who comes | :29:33. | :29:41. | |
in and roughly in what numbers. As a staunch Remainer, what do you make | :29:42. | :29:45. | |
of what he says? It seems to be a gentle move to a different thing, | :29:46. | :29:52. | |
the British Government able to decide for itself. That is the | :29:53. | :29:56. | |
reasonable version. The most important thing to say is, this vote | :29:57. | :30:04. | |
tonight is a war of defiance against the Westminster elite, we have to | :30:05. | :30:09. | |
listen very carefully to what they were trying to say to us. I think in | :30:10. | :30:15. | |
many places immigration is a proxy for the discontent. Labour market in | :30:16. | :30:22. | |
security, their children's future, what is happening to the health | :30:23. | :30:26. | |
service. I don't deny this is the most momentous vote of my political | :30:27. | :30:29. | |
lifetime. We have to listen carefully to what the electorate is | :30:30. | :30:30. | |
saying. It is a bit late now, because you | :30:31. | :30:44. | |
are out of the EU, which you wanted to stay in? I think actually Jeremy | :30:45. | :30:51. | |
Corbyn was closer to the national mood than any other major leader, | :30:52. | :30:56. | |
and I think that puts him in a strong position to be a voice for | :30:57. | :30:59. | |
working people. I never understood what he meant when he said he was | :31:00. | :31:03. | |
7.5 out of ten in favour of staying in. Which way do you think you | :31:04. | :31:09. | |
voted?! Go on, you could see it in his face as he came out! What he | :31:10. | :31:16. | |
meant by 70% was that he wanted to Remain and reform. Do you think he | :31:17. | :31:24. | |
will be pleased? I am delighted, I have been working for today for 26 | :31:25. | :31:32. | |
years! Oozed going to be and extremely challenging situation. And | :31:33. | :31:35. | |
one of the biggest challenges is to bring people together. I do not | :31:36. | :31:40. | |
believe Jeremy is pleased. But as the leader of the Labour Party, and | :31:41. | :31:43. | |
those of us in the shadow cabinet, we have to rise to the challenge of | :31:44. | :31:46. | |
both listening to the electorate and bringing people together. The way | :31:47. | :31:52. | |
they said no to all of the banks and... Isn't there a piece of you | :31:53. | :31:56. | |
which feels very proud to be British today? And the hectoring and the | :31:57. | :32:02. | |
scare stories which we had from all of these big financial... People | :32:03. | :32:07. | |
stood up to it and their common sense went against it. The Institute | :32:08. | :32:10. | |
for Fiscal Studies says there is going to be a gap of ?30 billion, | :32:11. | :32:15. | |
the Chancellor has said there is going to have to be an emergency | :32:16. | :32:18. | |
budget if we leave. Do you think all of that is going to happen? Some of | :32:19. | :32:24. | |
these were speculative figures. What is a speculative figure?! Based on | :32:25. | :32:30. | |
certain models of what is going to happen. Did you believe them | :32:31. | :32:34. | |
yourself? I believe it's going to be a very challenging situation. Do you | :32:35. | :32:39. | |
believe it was fear tactics, which played so well for the levers, being | :32:40. | :32:43. | |
used by the Chancellor of the Exchequer and the Prime Minister? I | :32:44. | :32:50. | |
believe the leader of the Labour Party believes that, that this | :32:51. | :32:53. | |
Project Fear staff did not help us in the end. You have heard the | :32:54. | :32:57. | |
various potions around this table, and it seems that almost anything | :32:58. | :33:01. | |
can happen. Table can decide to invoke article 50 and leave | :33:02. | :33:05. | |
immediately. Or you can start discussions and take it gently, as | :33:06. | :33:09. | |
Daniel says. It is all true, isn't it? There is no absolute way, it is | :33:10. | :33:14. | |
only an advisory referendum, you don't HAVE to do anything? No, I | :33:15. | :33:20. | |
don't think that is white. I think Diane Abbott is right to say that it | :33:21. | :33:25. | |
is the most momentous event certainly for many years, and more | :33:26. | :33:27. | |
momentous than the general election. It is momentous because the people, | :33:28. | :33:32. | |
as a result of a grassroots insurgency, have given the | :33:33. | :33:36. | |
government and instruction. And to some extent that is now out of the | :33:37. | :33:40. | |
hands of politicians. Listening to Daniel and Liam Fox, I sometimes | :33:41. | :33:43. | |
think they are so surprised that they have won, they almost wish they | :33:44. | :33:47. | |
haven't, and they are not following up the logic of the Brexit position, | :33:48. | :33:53. | |
which is that Britain is to leave the European Union. The dynamic | :33:54. | :33:58. | |
behind it is that there should be control of EU immigration, that we | :33:59. | :34:02. | |
should leave as soon as possible, and that preferably, this process | :34:03. | :34:04. | |
should be in the hands of people who believe it. Who said as soon as | :34:05. | :34:09. | |
possible? I think this is the public view. You said earlier, when are we | :34:10. | :34:14. | |
to cease a end the ?350 million? When his immigration going to be | :34:15. | :34:18. | |
controlled? This I suspect is the view of the British public. -- to | :34:19. | :34:24. | |
cease paying. Parliament is clearly on representative, because the only | :34:25. | :34:27. | |
party which recommended a Brexit vote has only one MP, and that is | :34:28. | :34:32. | |
Ukip. I did not think there would be a general election cause the | :34:33. | :34:35. | |
political class do not want it. Three quarters of the House of | :34:36. | :34:39. | |
Commons wanted to stay in. But we will come back to that. For the | :34:40. | :34:42. | |
benefit of those who have just joined us, let's have the news, | :34:43. | :34:50. | |
insofar as we can present all aspects of it, and we will come back | :34:51. | :34:53. | |
here after that. Here is Louise Minchin. Good morning. Britain has | :34:54. | :35:01. | |
voted to leave the European Union. The Leave campaign has so far taken | :35:02. | :35:05. | |
52% of the vote. It is now impossible for Remain to overtake | :35:06. | :35:10. | |
it. There have been strong wins for Leave in the north-east of England | :35:11. | :35:13. | |
and in the Midlands. Scotland and Northern Ireland voted to remain in | :35:14. | :35:18. | |
the EU. The Conservative MP Liam Fox, who supported the Leave | :35:19. | :35:23. | |
campaign, said a period of calm was now required. It's going to be some | :35:24. | :35:28. | |
time before we leave the European Union. We will have a period where | :35:29. | :35:31. | |
we can disentangle ourselves. We want to leave on good terms, we want | :35:32. | :35:37. | |
to corporate rarities in our mutual interest to do so. And we need to | :35:38. | :35:43. | |
have a period of stability. And I would like to see the Prime Minister | :35:44. | :35:46. | |
today announced that he will be staying on, so we do not add | :35:47. | :35:49. | |
political instability into the mix. Labour MP Chuka Umunna, who | :35:50. | :35:55. | |
campaigned for Remain, said the result has exposed divisions within | :35:56. | :36:01. | |
Britain. This is a big thing for our country, and what this has exposed | :36:02. | :36:05. | |
is a lot of division. There is a lot of talk as if this is an | :36:06. | :36:10. | |
overwhelming win. It isn't. 48% of people on the current projection did | :36:11. | :36:13. | |
not vote for this. The challenge for people in this context is how to | :36:14. | :36:16. | |
lead and bring our country together. The results have upset the world's | :36:17. | :36:21. | |
financial markets, with the pound falling again this morning to $1.34, | :36:22. | :36:27. | |
its lowest since 1985. When the polls closed, it sort to $1.5, but | :36:28. | :36:33. | |
as they showed stronger than expected support for leaving the EU, | :36:34. | :36:38. | |
it began to plummet. Markets in Asia are down nearly 3%. Nicola Sturgeon | :36:39. | :36:44. | |
has suggested that the Leave vote will reignite demands for an | :36:45. | :36:48. | |
independence referendum there. All 32 Scottish local authorities were | :36:49. | :36:54. | |
turned a majority for Remain. Nicola Sturgeon said the vote made it clear | :36:55. | :36:57. | |
that the people of Scotland saw their future as part of the European | :36:58. | :36:58. | |
Union. Back to David shortly. I'm not sure I quite dared do this, | :36:59. | :41:23. | |
but Gus O'Donnell, former cabinet secretary to Tony Blair, Gordon | :41:24. | :41:25. | |
Brown and David Cameron, is in Westminster. Do you mind very much | :41:26. | :41:30. | |
if we just do something first? Because we want to hear about | :41:31. | :41:35. | |
procedure from new, which is very important. First, Sarah Wollaston | :41:36. | :41:39. | |
has been waiting a long time. She was an important switcher. She is | :41:40. | :41:43. | |
with Emily. A Tory MP and a GP. For people waking up this morning, they | :41:44. | :41:49. | |
are saying, it has happened. There is real shock. I wonder what it | :41:50. | :41:52. | |
feels like for somebody who has gone from Brexit to Remain. Whether a bit | :41:53. | :42:00. | |
of you is left in Brexit or...? No, one thing I realised was that if I | :42:01. | :42:03. | |
woke this morning and Britain had voted to leave, it would not be a | :42:04. | :42:08. | |
sense of freedom, or some kind of Independence Day, but actually that | :42:09. | :42:11. | |
we have lost something and a sadness and concern for the future. But my | :42:12. | :42:17. | |
job now as a politician is not to quibble about the result, but | :42:18. | :42:21. | |
actually to increment it. Because parliament has been given a clear | :42:22. | :42:24. | |
instruction here. This has been a divisive campaign and now it is the | :42:25. | :42:28. | |
time for us to try and bring people together and put it into action in a | :42:29. | :42:32. | |
way which, as far as possible, delivers a positive way forward. Do | :42:33. | :42:38. | |
you believe it will actually happen? Some people are actually saying, | :42:39. | :42:42. | |
there will be two years of negotiation and then we will be | :42:43. | :42:45. | |
granted some kind of associate status which puts us in the common | :42:46. | :42:49. | |
market, in the single market, without really taking us out of the | :42:50. | :42:53. | |
EU at all, what do you think? We are in a period of great uncertainty, | :42:54. | :42:58. | |
and there are 27 other partner nations now who will be having a key | :42:59. | :43:02. | |
say in our status as well. We need to be very careful in the language | :43:03. | :43:07. | |
we use. We need to make it clear that we are not walking away from | :43:08. | :43:09. | |
Europe we are coming out of the European Union, but we do want to | :43:10. | :43:13. | |
maintain close partnership and ties without European neighbours. But | :43:14. | :43:16. | |
what do you think that we are missing? Daniel has just spoken of | :43:17. | :43:22. | |
the sense of liberty and gain a deep you only see it as loss? I'm afraid | :43:23. | :43:28. | |
I see this as being a loss, but clearly the majority of the country | :43:29. | :43:31. | |
see it as a game. We need to be careful about how we are speaking to | :43:32. | :43:35. | |
those around the country who did not vote to leave. I was very glad to | :43:36. | :43:39. | |
hear him referring to the position of those, for example, within the | :43:40. | :43:43. | |
EU, who are currently living in this country. I think of NHS staff and | :43:44. | :43:48. | |
social care staff, there are 130,000 people working in the NHS and social | :43:49. | :43:52. | |
care, who qualified in Europe, and we need to send a clear message to | :43:53. | :43:58. | |
them that we really do value what they do and we would like them to | :43:59. | :44:01. | |
stay. And this is not done a mean that we want them to leave. This | :44:02. | :44:06. | |
needs to be a reassuring message sent out. And also about the | :44:07. | :44:10. | |
language we use. We must not be triumphalist, we must try and bring | :44:11. | :44:14. | |
people together. Do you think that two-year period might lead to many | :44:15. | :44:19. | |
more workers from overseas coming in, thinking, this is our last | :44:20. | :44:22. | |
chance before the drawbridge gets pulled up? We don't know. This is | :44:23. | :44:26. | |
one of the problems with voted to leave, that there will be a period | :44:27. | :44:31. | |
of uncertainty. We also know for example that some of those | :44:32. | :44:35. | |
concessions were negotiated by David Cameron, such as being able to | :44:36. | :44:39. | |
reduce the amount of benefit which is paid to those who come and live | :44:40. | :44:43. | |
here for the first four years, that now won't come into play. So yes, we | :44:44. | :44:49. | |
are in a period of great uncertainty. The right thing to do | :44:50. | :44:53. | |
now is to have some stability, for David Cameron to stay at the helm | :44:54. | :44:57. | |
for the time being, and to have a pause before we rush into doing | :44:58. | :45:02. | |
anything next. Clearly, and instruction has been given to | :45:03. | :45:06. | |
Parliament, that we WILL be leaving the European Union. What about this | :45:07. | :45:10. | |
Brexit budget, do you expect it to happen and would you support it? | :45:11. | :45:16. | |
The Government will have to see what happens with the economy, it would | :45:17. | :45:22. | |
be too soon to implement an emergency budget. You want them both | :45:23. | :45:27. | |
to stay on? What we don't need is immediate resignations. I am sure | :45:28. | :45:33. | |
that at some point there will be a change, probably leading us into the | :45:34. | :45:36. | |
negotiations, but it should not happen immediately, I hope we will | :45:37. | :45:42. | |
not see David Cameron, out and designed this morning, because it | :45:43. | :45:47. | |
will add to the uncertainty. He will be a voice of calm and reason. | :45:48. | :45:54. | |
You see on the bottom right of the screen, the Leave campaign is | :45:55. | :46:02. | |
leading by 1 million 223,000 votes. It is well fed. We have to cancel | :46:03. | :46:12. | |
areas to come. What people have been asking is, what happens? One man has | :46:13. | :46:18. | |
been at the Cabinet, he is the Cabinet secretary from 2005 to 2011. | :46:19. | :46:24. | |
He sits at the heart of Government. He was there under Tony Blair, under | :46:25. | :46:30. | |
Gordon Brown, he has been there under David Cameron, so he has | :46:31. | :46:34. | |
served all three Masters. What would be happening right now, coming up to | :46:35. | :46:41. | |
7am, in number ten? There would have been worth on contingency plans for | :46:42. | :46:49. | |
this sort of event. They will be worrying about the volatility in the | :46:50. | :46:52. | |
markets and hoping that that will calm down. There is not much they | :46:53. | :46:56. | |
can do about the pound falling, it will get to its level, but they | :46:57. | :47:01. | |
would think about making sure there are not unstable markets. On the | :47:02. | :47:06. | |
political front, we need to sort ourselves out to get a negotiating | :47:07. | :47:12. | |
position so that we can sort out how we exit from the EE you. For | :47:13. | :47:16. | |
example, when the witch figure Article 50? If I were a cabinet | :47:17. | :47:22. | |
secretary, I would say there is no rush, and I am glad to hear some of | :47:23. | :47:26. | |
your guests say the same, because this is a two-year process and this | :47:27. | :47:31. | |
is not a simple process. It was designed to make leaving very | :47:32. | :47:35. | |
difficult and not easy for the leaving country. I will be holding | :47:36. | :47:41. | |
off on that and waiting until we have a settled Government that can | :47:42. | :47:46. | |
give clear direction to implement the will of the people on how we | :47:47. | :47:52. | |
leave. The Prime Minister said, maybe this was just a threat, but if | :47:53. | :47:57. | |
the vote was to leave, he would leave, he would invoke article 50. | :47:58. | :48:00. | |
You would say, actually, you don't need to? It is obvious he doesn't | :48:01. | :48:06. | |
need to, accept for political reasons. The country have voted, | :48:07. | :48:11. | |
they will be in patient with the Prime Minister, who they don't like | :48:12. | :48:14. | |
very much, cos they did not go along with his view, --. Will he decide he | :48:15. | :48:25. | |
wants to stay on and lead the negotiations? When you trigger | :48:26. | :48:31. | |
article 50, which is a letter from the Prime Minister to the Council of | :48:32. | :48:34. | |
the European Union, you start the two-year clock. I would not be in | :48:35. | :48:40. | |
any rush to start it off. We know where we are going, the people have | :48:41. | :48:46. | |
spoken, the question is, how do you exit and when do you stop the formal | :48:47. | :48:53. | |
process? Article 50 is the only legal way to leave. We have signed | :48:54. | :48:57. | |
up to a treaty that says that is how we leave. You could negotiate it all | :48:58. | :49:02. | |
before you invoke the article and then leave a month later. You could | :49:03. | :49:07. | |
do all of the negotiation before, giving yourself time to think it | :49:08. | :49:10. | |
through and talk to all your former partners in Europe. It takes two to | :49:11. | :49:17. | |
tango, the EU might say, actually, we have a process for leaving, we | :49:18. | :49:22. | |
specified it, you signed up to it, so let's start doing this within the | :49:23. | :49:28. | |
framework of the article. Two years is a very short time in European | :49:29. | :49:32. | |
negotiations, most things seem to take ten or 15 years. I pointed out | :49:33. | :49:38. | |
some time ago it took Greenland three years to sort out its exit, | :49:39. | :49:43. | |
they only had one issue, fish, and rather fewer people than watch most | :49:44. | :49:49. | |
European football matches. Take us back inside the Cabinet room. You | :49:50. | :49:57. | |
have a Prime Minister who has fought throughout very hard and said, | :49:58. | :50:01. | |
listen to the experts, to the Bank of England, you have a Chancellor | :50:02. | :50:06. | |
who said, it will damage GDP, we will have a deficit, GDP will fall, | :50:07. | :50:13. | |
we will have to put up taxes. Can those two people negotiate this, or | :50:14. | :50:17. | |
would you say, it would be wiser to have different people do it who are | :50:18. | :50:22. | |
not quite as committed, as you have been, to not taking this step? That | :50:23. | :50:28. | |
as they call the Prime Minister will have to make. You would have to say | :50:29. | :50:33. | |
something as Cabinet Secretary about what was advisable. You are not | :50:34. | :50:38. | |
there now, so you can speak freely. What I would say is it is | :50:39. | :50:43. | |
important... The civil service will need to be directed. Just as they | :50:44. | :50:48. | |
were clear when the Prime Minister or the Government had a position | :50:49. | :50:53. | |
that we would remain in, so they were working with the Government on | :50:54. | :50:57. | |
that, we now need a clear position as to what is the form of Leave. | :50:58. | :51:03. | |
Access to the single market, the question about free movement of | :51:04. | :51:08. | |
Labour, those issues. We need that position to be sorted out. Who will | :51:09. | :51:14. | |
do that? I suspect that if the Government that will be around for a | :51:15. | :51:17. | |
long time. The Prime Minister will want to think about whether he is | :51:18. | :51:25. | |
the right person to do that, or whether he will want to say, look, I | :51:26. | :51:30. | |
did my renegotiation, the people have spoken, I am now going to | :51:31. | :51:35. | |
manage a period where we move on to a new set of people who will do this | :51:36. | :51:39. | |
negotiation. I will leave it to Boris? That is a matter for the | :51:40. | :51:45. | |
Conservative Party. If he decides he wants to start a leadership process, | :51:46. | :51:51. | |
the Conservative MPs get to do a short list, which goes to the party. | :51:52. | :51:58. | |
What kind of a shock is this to the civil service, the people who were | :51:59. | :52:02. | |
much derided during this campaign, the so-called experts, who thought | :52:03. | :52:07. | |
of themselves as experts, what kind of shock is it to them to suddenly | :52:08. | :52:15. | |
have to change tack? They quit on the uptake? Will they be thinking in | :52:16. | :52:20. | |
a different mindset already? Or will there be a total confusion for a | :52:21. | :52:25. | |
year or two? Not in a different mindset. The work they did was | :52:26. | :52:32. | |
clear, they were in support of the Government that had a strong | :52:33. | :52:35. | |
position, which was that we should remain in. If the Government | :52:36. | :52:41. | |
position is that we are leaving, which it will be now, they will work | :52:42. | :52:46. | |
hard to get the very best deal for Britain in terms of leaving. That | :52:47. | :52:51. | |
will be fine. The things that were said by the Treasury and the rest of | :52:52. | :52:57. | |
it, I think, are things we will have to grapple with. It is difficult, | :52:58. | :53:02. | |
there are likely to be economic difficulties. The predictions of | :53:03. | :53:08. | |
market volatility have turned out to be true. The question is, how can we | :53:09. | :53:14. | |
manage all of those difficulties as best we can? That is what they have | :53:15. | :53:21. | |
to do now. Thank you for joining us from Westminster. Shall we now have | :53:22. | :53:27. | |
a look, as people will be joining us at this time, just coming up to 7am, | :53:28. | :53:30. | |
the story of what happened? Yes, let's go to the maps, the map | :53:31. | :53:44. | |
of the UK. At the colours came in. Blue for Leave, yellow for Remain. | :53:45. | :53:50. | |
It was not enough. Scotland, Northern Ireland and London voting | :53:51. | :53:53. | |
for Remain, but not enough to swing it. If I, the map in for Leave and I | :53:54. | :54:02. | |
darken the blue where the Leave vote was strongest, you can see where it | :54:03. | :54:07. | |
packed a punch. Light blue in Scotland, where Leave was weak, but | :54:08. | :54:12. | |
the North of England was very strong for blue. The East of England, | :54:13. | :54:18. | |
especially East Anglia, the Thames Gateway, and London, very light, | :54:19. | :54:23. | |
does not much was going on for Leave. The question was, would the | :54:24. | :54:28. | |
votes in London come through and turn it around? They never really | :54:29. | :54:34. | |
did in sufficient numbers, because the Leave vote was too strong. In | :54:35. | :54:41. | |
each counting area, we have placed a stalk in the colour of the side that | :54:42. | :54:48. | |
one, blue for Leave, yellow for Remain. Where it is high, they won | :54:49. | :54:53. | |
by a large amount. Edinburgh, a big majority to remain. In parts of the | :54:54. | :55:00. | |
Midlands, East Midlands, West Midlands, lots of votes for Leave. | :55:01. | :55:05. | |
The heavy numbers in London for Remain. Let's go to the north-east. | :55:06. | :55:14. | |
We saw some remarkable results. The very first big result was this one. | :55:15. | :55:21. | |
It is that small yellow rectangle, cube, which should have been, we | :55:22. | :55:27. | |
thought, a much eager vote for Remain in Newcastle. It only just | :55:28. | :55:34. | |
went to Remain, that was a sign that things were going badly for Remain. | :55:35. | :55:39. | |
The Leave side packed away some extraordinary results, look at the | :55:40. | :55:44. | |
height of Durham. It is the county council. A lot of votes piling up | :55:45. | :55:50. | |
for Leave in the north-east of England. And elsewhere. The West | :55:51. | :56:00. | |
Midlands. Warwick is the loan yellow rectangle, the stalk that is yellow. | :56:01. | :56:05. | |
Not much else to write home about for Remain. Some really thumping | :56:06. | :56:10. | |
victories in the West Midlands the Leave. In Dudley and Walsall. The | :56:11. | :56:16. | |
height represents the amount of votes that Leave one by. The West | :56:17. | :56:23. | |
Midlands was extraordinary. We can see Birmingham in the middle. It had | :56:24. | :56:28. | |
the biggest number of voters in its counting area, bigger than anywhere | :56:29. | :56:33. | |
else in the country, 700,000, but they cancelled each other out. There | :56:34. | :56:37. | |
was not much of a majority for Leave. But that was to their | :56:38. | :56:43. | |
advantage, because Birmingham was expected on paper to go Remain. The | :56:44. | :56:50. | |
fact that Leave one in Birmingham was remarkable, and any sense of | :56:51. | :56:56. | |
impact did not happen for the Remain side. The East Midlands, lots of | :56:57. | :57:02. | |
Leave victories. You can see the yellow is Leicester and Rushcliffe, | :57:03. | :57:08. | |
but Boston on the east Coast had the biggest majority, something like 80% | :57:09. | :57:16. | |
voting Leave. It was the most Eurosceptic counting area, we knew | :57:17. | :57:22. | |
it would be. You can see the blue bars piling up in so many parts of | :57:23. | :57:29. | |
the country. That is how Leave one. London, let's look at these | :57:30. | :57:34. | |
boroughs. 33 of them. Look how many went Remain. It was not enough. They | :57:35. | :57:41. | |
managed to not clinch victory in places like barking and Haver and | :57:42. | :57:47. | |
Bexley. They did not put on enough votes across all of these London | :57:48. | :57:52. | |
counting areas, these boroughs. Lambeth had a huge majority to | :57:53. | :57:57. | |
remain, that would have helped, but places like Hounslow were much | :57:58. | :58:00. | |
closer, so London did not come to the rescue of Remain in the UK. | :58:01. | :58:11. | |
60-40 in London for Remain, 60-40 in the rest of England for Remain. It | :58:12. | :58:17. | |
was an unequal match in the end, and that shows why the UK has voted to | :58:18. | :58:19. | |
leave the EU. You described yourself as sad and | :58:20. | :58:31. | |
angry in the middle of that Remain camp, but all of those big | :58:32. | :58:33. | |
metropolitan borough 's, the places like Newcastle, Birmingham, | :58:34. | :58:38. | |
Sheffield, that were expected to be solid for Remain, were not. I am not | :58:39. | :58:43. | |
that offered about doing an analysis of the individual results, the | :58:44. | :58:51. | |
reality is we wake up to a Britain that complies with the vision that | :58:52. | :58:54. | |
Nigel Farage has set out, and that is not the country I believe in. I | :58:55. | :58:59. | |
accept the result, it is important to do that, but I don't believe that | :59:00. | :59:03. | |
we should turn our back on the outward looking, decent, inclusive, | :59:04. | :59:07. | |
internationalist Britain that we believe in. I am utterly gutted and | :59:08. | :59:15. | |
heartbroken, it is beyond party politics, but I think I am in no | :59:16. | :59:19. | |
mood for giving up, or thinking, this is the kind of country I will | :59:20. | :59:24. | |
accept. The Britain that three out of every four younger people voted | :59:25. | :59:29. | |
for is the one which does stand tall in the world, promotes prosperity, | :59:30. | :59:34. | |
working with others, wants to build peace and be a good neighbour, not | :59:35. | :59:38. | |
be isolated, fearful, angry and alone. I accept the result, but I | :59:39. | :59:45. | |
don't agree with it. It does not sound like you accept it, when you | :59:46. | :59:48. | |
talk about those who did not vote to remain, the suggestion is they are | :59:49. | :59:55. | |
not decent. The Liberal Democrats have a habit of not coming first in | :59:56. | :00:00. | |
elections, so I accept the outcome, but over the last 20 years people | :00:01. | :00:04. | |
like David Cameron, Conservative ministers and MPs, who has cheaply | :00:05. | :00:10. | |
divided the EU for a quick headline, has stocked up a swell of distrust | :00:11. | :00:15. | |
against the EU, and although I have stood shoulder to shoulder with | :00:16. | :00:19. | |
Harriet Harman, Horden Brown, Andy Burnham, who have pulled a shift, I | :00:20. | :00:24. | |
accused Jeremy Corbyn and the lady -- Labour leadership in other | :00:25. | :00:28. | |
spinelessness for not getting involved in the campaign for | :00:29. | :00:34. | |
Britain's soul and future. This is where British politics changes. | :00:35. | :00:37. | |
Progressives need to start working together and stop being spoken down | :00:38. | :00:38. | |
to by the extremists. Do you think Jeremy Corbyn should | :00:39. | :00:49. | |
go? I think he has let the country down massively. Those areas which | :00:50. | :00:54. | |
has let the country down for Remain, they were the areas which Labour was | :00:55. | :00:59. | |
supposed to deliver. And that goes along with the spinelessness of a | :01:00. | :01:02. | |
Conservative garment which limped into this situation and could not | :01:03. | :01:06. | |
present a positive argument. We tried very hard throughout this | :01:07. | :01:09. | |
campaign to be uplifting and positive about Britain's role in the | :01:10. | :01:13. | |
world. It is one of the reasons why three quarters of young voters voted | :01:14. | :01:17. | |
to remain. What a tragedy that other voters have voted otherwise. The | :01:18. | :01:24. | |
truth is, maybe David Cameron expected the Lib Dems to be stopping | :01:25. | :01:28. | |
him? Maybe he did. But in the case of David Cameron and Boris Johnson | :01:29. | :01:32. | |
as well. You have got two Conservative politicians who have | :01:33. | :01:35. | |
both taken positions in this referendum, purely for their own | :01:36. | :01:40. | |
personal, career benefit, not for the country's good. It is about time | :01:41. | :01:44. | |
we have politicians who stood up for what was in the interests of the | :01:45. | :01:47. | |
whole country, and our role in the world, rather than just politicking | :01:48. | :01:51. | |
for the next election. Would you be surprised if Scotland went for | :01:52. | :01:54. | |
another referendum now? There should not be another referendum in | :01:55. | :01:59. | |
Scotland, with the pound tanking, the last thing Scotland or the rest | :02:00. | :02:01. | |
of the United Kingdom needs is to add to that self-inflicted recession | :02:02. | :02:07. | |
with further internal disarray. This is a divided country, let's not make | :02:08. | :02:12. | |
it more divided. The last result came in, and it was Cornwall voting | :02:13. | :02:27. | |
to leave. 56%. So, here is the final result for the United Kingdom. Here | :02:28. | :02:30. | |
are the actual numbers of how people voted yesterday's. One million and a | :02:31. | :02:43. | |
bit majority for those who want to leave. We will go on looking at the | :02:44. | :02:48. | |
results of all of this. We will be talking to Jeremy Corbyn. I hope you | :02:49. | :02:53. | |
heard Tim Farron saying that he had failed to deliver for the Labour | :02:54. | :02:56. | |
Party, and we will be talking about that. Let's now have a catch of the | :02:57. | :03:00. | |
news and the weather, with Louise Minchin. Thank you. Good morning. | :03:01. | :03:07. | |
Britain has voted to leave the European Union. There have been | :03:08. | :03:10. | |
strong wins for Leave in the north-east of England and in the | :03:11. | :03:14. | |
Midlands. Scotland and Northern Ireland voted to remain in the EU. | :03:15. | :03:16. | |
Eleanor Garnier reports. Well, at 20 minutes to five, | :03:17. | :03:21. | |
we can now say the decision taken in 1975 by this country to join | :03:22. | :03:24. | |
the Common market has been reversed We are absolutely clear | :03:25. | :03:27. | |
now that there is no way Watch and listen carefully - | :03:28. | :03:35. | |
this is history in the making... The British people have spoken, | :03:36. | :03:52. | |
and the answer is, we are out. And these were the celebrations just | :03:53. | :03:55. | |
moments before the BBC This will be a victory for real | :03:56. | :03:58. | |
people, a victory for ordinary With the pound plunging, | :03:59. | :04:02. | |
Remain campaigners This is a crushing, crushing | :04:03. | :04:06. | |
decision. It is a terrible day for Britain | :04:07. | :04:10. | |
and a terrible day for Europe, This moment, this is a seismic | :04:11. | :04:14. | |
moment for our country, which goes We are talking about | :04:15. | :04:18. | |
what happens to David Cameron - What this has exposed | :04:19. | :04:24. | |
is a lot of division. There's 48% of people | :04:25. | :04:29. | |
on the current prediction But this prominent Leave campaigner | :04:30. | :04:43. | |
called for cross-party co-operation. We have a responsibility to act in | :04:44. | :04:47. | |
the best long-term interests of this country. It was not long after the | :04:48. | :04:53. | |
polls closed before Leave started marking up huge wins. Across the | :04:54. | :04:57. | |
north-east, results soon showed Leave doing consistently better than | :04:58. | :05:02. | |
predicted. A big win in Hartlepool, and pushing Remain into a narrow | :05:03. | :05:10. | |
victory in Newcastle. 65,404... A much smaller win than expected. Away | :05:11. | :05:16. | |
from the north of England, in Basildon, in Essex, another big win | :05:17. | :05:18. | |
for Leave. And another count with | :05:19. | :05:24. | |
a big turnout, at 74%. And in Flintshire, just | :05:25. | :05:26. | |
as across the rest of Wales, But Scotland voted emphatically | :05:27. | :05:29. | |
to stay in the EU, though the overall result will lead | :05:30. | :05:36. | |
to renewed calls for a second After counting was completed, | :05:37. | :05:49. | |
Northern Ireland voted to remain. And it looks like London will be the | :05:50. | :05:53. | |
only region of England to back staying in the EU. Parliaments | :05:54. | :06:00. | |
across the European Union will now be busy for years. Britain has voted | :06:01. | :06:05. | |
to leave the EU, to tear up the settlement the country has had for | :06:06. | :06:08. | |
decades, unleashing perhaps huge opportunity, perhaps huge risk. Or | :06:09. | :06:11. | |
perhaps both. The results have upset the world's | :06:12. | :06:21. | |
financial markets, with the pound falling again this morning to $1.34, | :06:22. | :06:24. | |
its lowest since 1985. When the polls closed, | :06:25. | :06:27. | |
it soared to $1.50, but as they showed stronger | :06:28. | :06:28. | |
than expected support for leaving The Bank of England says it is | :06:29. | :06:40. | |
monitoring developments closely. Scotland's First Minister has | :06:41. | :06:43. | |
suggested that the Leave vote will reignite demands for an independence | :06:44. | :06:47. | |
referendum there. All 32 Scottish local authorities returned | :06:48. | :06:50. | |
majorities for Remain. Nicola Sturgeon said it made clear that the | :06:51. | :06:54. | |
people of Scotland see their future as part of the European Union. We | :06:55. | :06:57. | |
will have more from the results programme shortly. First, let's have | :06:58. | :06:59. | |
a look at the weather, with Carol. Pollen levels are high or very high | :07:00. | :07:15. | |
except for the north of Scotland. For many western and central parts | :07:16. | :07:20. | |
of the UK today, we are looking at showers. Some of them will be heavy | :07:21. | :07:25. | |
and thundery, with some hail. In between, there will be some | :07:26. | :07:31. | |
sunshine. Sunshine and showers, some of them thundery, across Northern | :07:32. | :07:34. | |
Ireland, north-west England, Wales and the south-west of England. Once | :07:35. | :07:37. | |
again, in between the showers, there will be some sunshine. Sunshine and | :07:38. | :07:42. | |
showers across the Midlands, but compared to the deluge of rain in | :07:43. | :07:48. | |
the south-east and East End year yesterday's, it will be relatively | :07:49. | :07:52. | |
dry. Consider yourself lucky if you do catch a shower. The showers will | :07:53. | :07:58. | |
persist in the north and the west. It's not going to be a cold night. | :07:59. | :08:02. | |
All of us staying in double figures. Tomorrow, once again, it's going to | :08:03. | :08:09. | |
be a day of sunshine and showers. The distribution is slightly | :08:10. | :08:12. | |
different, with the north and west seeing something a little bit drier. | :08:13. | :08:20. | |
A quick look at what is happening on Sunday. We start | :08:21. | :10:24. | |
With Britain voting Julie EU, all eyes this morning are on Downing | :10:25. | :10:48. | |
Street. Laura Kuenssberg has gone down there. What is the news from | :10:49. | :10:55. | |
behind you? Well, the street is absolutely packed. I think I can | :10:56. | :10:58. | |
show you the pick shares of the British press, and many members of | :10:59. | :11:03. | |
the international press, filling up Downing Street, the official | :11:04. | :11:06. | |
residence of the Prime Minister. Huge anticipation here. We are not | :11:07. | :11:09. | |
entirely sure when, but we expect before eight o'clock, when the | :11:10. | :11:14. | |
financial markets opened, we will see David Cameron come out of that | :11:15. | :11:18. | |
store to make a statement. We do not know in detail what he will say. But | :11:19. | :11:23. | |
two themes he will address, I'm sure, firstly, he will urge the need | :11:24. | :11:30. | |
for stability after this tumultuous result, which of course has come | :11:31. | :11:33. | |
about by a political decision which he made to offer the referendum in | :11:34. | :11:39. | |
the first place. He will urge calm and stability. And I'm sure he will | :11:40. | :11:43. | |
be doing everything in his power to try to convey a sense of calm. The | :11:44. | :11:48. | |
second call but I understand he will make is for the Tory party to come | :11:49. | :11:52. | |
together, to urge his colleagues, who have been so bitterly divided in | :11:53. | :11:55. | |
this bruising fight during the referendum, to come together, | :11:56. | :11:59. | |
basically not to start knocking lumps out of each other. The big | :12:00. | :12:03. | |
question mark is whether or not he will address the matter of his own | :12:04. | :12:07. | |
departure. Now, senior Tories I have spoken to in the last hour also have | :12:08. | :12:12. | |
actually, in the main, been clear that they do not think this is the | :12:13. | :12:16. | |
moment for David Cameron to say he is up and off. In a moment like | :12:17. | :12:22. | |
this, when so much is up in the air, most in the Tory party seem to | :12:23. | :12:25. | |
believe that he should stay, at least for the moment. But do not | :12:26. | :12:30. | |
think that that does not mean there are not conversations going on about | :12:31. | :12:34. | |
this. As we have said, the experience of such a snub for him, | :12:35. | :12:39. | |
the man who was front and centre of this campaign, who has been defeated | :12:40. | :12:42. | |
in such a way, inevitably means in one way or another, his time in | :12:43. | :12:47. | |
office is foreshortened. That does not mean he's about to come out of | :12:48. | :12:52. | |
the door and resign at all. But whether he admits he admits it | :12:53. | :12:56. | |
publicly or not, privately, most people in Westminster would now say | :12:57. | :12:58. | |
his time in office is certainly contracted. The only person who has | :12:59. | :13:05. | |
come out of the door so far this morning, not actually a person, but | :13:06. | :13:09. | |
Larry the cat, never one to miss a big moment like this. While not | :13:10. | :13:15. | |
coming out and saying, I will resign, do you think he might give | :13:16. | :13:17. | |
an indication that perhaps overcome the autumn, he would act as a | :13:18. | :13:22. | |
caretaker, but somebody else should take forward Britain's leading the | :13:23. | :13:29. | |
EU? Because quite clearly, a lot of people might think it was almost | :13:30. | :13:33. | |
fraudulent for him to negotiate the departure, when he has fought this | :13:34. | :13:40. | |
bitter battle to stay in - is he the man to get the best deal taking us | :13:41. | :13:45. | |
out, will when one of the reasons we lost it was because people said the | :13:46. | :13:49. | |
deal he got was not good enough? Indeed. And also, having with such | :13:50. | :13:53. | |
regularity and forcefulness, predicted doom and disaster if the | :13:54. | :13:57. | |
public made this democratic decision. I think there are two | :13:58. | :14:01. | |
different things. Firstly, I think it is likely that there will be | :14:02. | :14:08. | |
maybe not explicitly but some hint about the possible timetable. | :14:09. | :14:10. | |
Perhaps he might say that at the party conference in the autumn, he | :14:11. | :14:14. | |
might set out his own future. Perhaps he might at least privately | :14:15. | :14:19. | |
give his cabinet ministers and some hint later today. We expect the | :14:20. | :14:23. | |
Cabinet will be brought together, on his own individual plans. I think it | :14:24. | :14:28. | |
is probably more likely that he will focus on appointing a negotiating | :14:29. | :14:32. | |
team. It may be that he comes out and names one or two of the people | :14:33. | :14:36. | |
who would be negotiating on the other side. Huge speculation about | :14:37. | :14:40. | |
Michael Gove being part of the negotiating team. Perhaps Boris | :14:41. | :14:46. | |
Johnson, too. It might be that we get an assurance from David Cameron | :14:47. | :14:49. | |
that people who won the argument will be part of those negotiations. | :14:50. | :14:54. | |
But in terms of his own planned departure, whether that is one month | :14:55. | :14:59. | |
or one year, I'm not sure how explicit he will be about that. | :15:00. | :15:03. | |
Several senior Tories this morning who have been on the other side of | :15:04. | :15:07. | |
the argument has said the first thing he must do, after calling for | :15:08. | :15:11. | |
calm, is to get a group of senior people together to make a plan, | :15:12. | :15:15. | |
before he can make any detailed proposals. | :15:16. | :15:19. | |
Tim Farron said that Jeremy Corbyn failed to deliver. There has been a | :15:20. | :15:31. | |
feeling that somehow the Labour Party did not bring out its own | :15:32. | :15:36. | |
people in support of Remain as quite as strongly or with as much | :15:37. | :15:41. | |
conviction as it should have done. What is going on in the Labour | :15:42. | :15:44. | |
Party? Are there recriminations from Chuka Umunna, who was here earlier? | :15:45. | :15:54. | |
Undeniably there will be very serious recriminations. I have heard | :15:55. | :15:59. | |
from Labour Party people who are angry and feel that Jeremy Corbyn | :16:00. | :16:05. | |
did not do enough to mobilise the party, the huge new membership that | :16:06. | :16:11. | |
he managed to attract over the summer, to get out the vote, and | :16:12. | :16:18. | |
what he described as an agenda of remain and reform was not the kind | :16:19. | :16:24. | |
of thing that would motivate people. He said that the EU was seven and | :16:25. | :16:30. | |
half out of ten. For many people it was an honest assessment, but as a | :16:31. | :16:34. | |
rallying cry to get voters to turn out on an issue like this? Many | :16:35. | :16:39. | |
Labour MPs feel he was not convincing enough, he had to be | :16:40. | :16:42. | |
pushed and dragged into getting out there and making the case. What is | :16:43. | :16:47. | |
also imitating some Labour MPs is that they have been sent round the | :16:48. | :16:53. | |
lines to take, a copy of it has been leaked to me, and the party HQ | :16:54. | :16:58. | |
suggest that they should tell the public that Jeremy Corbyn is now the | :16:59. | :17:03. | |
only political leader who can unite the country. As a critical Remainer, | :17:04. | :17:14. | |
he is more in touch with the public than any of the other party leaders | :17:15. | :17:18. | |
are. Much of the vote was about people showing they are unhappy with | :17:19. | :17:22. | |
European immigration, and Jeremy Corbyn is probably the most pro-EU | :17:23. | :17:27. | |
immigration leader out there, some Labour MPs think that beggars | :17:28. | :17:34. | |
belief. One MP predicted there could also be a Labour leadership contest | :17:35. | :17:39. | |
under way in the next couple of months. Diane Abbott, have you | :17:40. | :17:47. | |
received a message from Labour Party HQ, that this is the line you should | :17:48. | :17:53. | |
take? I have not responded to them for 30 years, I am not going to | :17:54. | :17:58. | |
start now! The people that are complaining about Jeremy would blame | :17:59. | :18:04. | |
him when the sun sets at night. The truth is, all fingers have to point | :18:05. | :18:08. | |
out David Cameron, he chose to have the referendum, the timing of it, he | :18:09. | :18:12. | |
cooks up a bogus renegotiation, and he failed to persuade them. And | :18:13. | :18:18. | |
Labour also failed. We got out more of our vote and they did of theirs. | :18:19. | :18:25. | |
We shall discover. Let's come back to the economy and the problems that | :18:26. | :18:31. | |
Britain is facing at the moment, the markets are volatile, falling, what | :18:32. | :18:37. | |
is going on? It has been a remarkable night. At 10pm the pound | :18:38. | :18:45. | |
was hitting record highs for 2016, when the polls seemed to suggest | :18:46. | :18:49. | |
that Remain had had a good day in the referendum. It has now sunk more | :18:50. | :18:54. | |
quickly than it sank in the 2008 financial crisis, on Black | :18:55. | :19:01. | |
Wednesday, when the pound was injected from the exchange rate | :19:02. | :19:06. | |
mechanism markets. The markets are signalling that the uncertainty | :19:07. | :19:09. | |
created by the referendum has affected their appetite for risk, | :19:10. | :19:15. | |
for investing in the UK to an extent. When we started at 10pm the | :19:16. | :19:24. | |
opposite was happening, don't people listening to this view these markets | :19:25. | :19:30. | |
with a certain contempt, like gamblers, they see what they think | :19:31. | :19:35. | |
will happen, the market rises, the pound rises, it doesn't happen, the | :19:36. | :19:39. | |
pound falls, but that is not real life. But it has an effect on real | :19:40. | :19:44. | |
life. If your business is buying products in dollars and the pound | :19:45. | :19:50. | |
has reduced in value by over 10%, your business is starting to | :19:51. | :19:54. | |
struggle. If you are an exporter to other markets and the pound falls, | :19:55. | :19:58. | |
your exports become cheaper. So these are real things, this is a | :19:59. | :20:04. | |
real signal about investor confidence in sterling and, by | :20:05. | :20:12. | |
association, in the UK economy, and if the UK economy is going to be | :20:13. | :20:17. | |
positive in the future. You remember Harold Wilson, the pound in your | :20:18. | :20:20. | |
pocket has not been devalued, if you go to the shops today or next week | :20:21. | :20:25. | |
to do the weekly shop, are you going to find it more expensive because of | :20:26. | :20:27. | |
what has happened in the markets today? It depends. If sterling is | :20:28. | :20:37. | |
lower in value, you tend to import inflation into the country, because | :20:38. | :20:42. | |
your imports become more expensive. That leads to more expensive prices | :20:43. | :20:46. | |
in the shops, if those are the kind of things you are by. The chief | :20:47. | :20:50. | |
counting officer, the chair of the Electoral Commission, announcing the | :20:51. | :20:55. | |
final figures. The referendum held on the 23rd of | :20:56. | :21:02. | |
June 2016, I hereby give notice that I have certified the following. The | :21:03. | :21:10. | |
total number of ballot papers counted was 33,577,000 342. The | :21:11. | :21:17. | |
total number of votes cast in favour of Leave, 16,000,140 1241. -- Leave. | :21:18. | :21:32. | |
The Leave, 17 million. The number of ballot papers rejected | :21:33. | :22:01. | |
was as follows. No official Mark... I was just saying goodbye to Daniel | :22:02. | :22:07. | |
Hannon. You are off. New people coming in. That get back to where we | :22:08. | :22:12. | |
were, the Bank of England. It has come out with a statement, it says | :22:13. | :22:17. | |
it has undertaken extensive contingency planning and says it is | :22:18. | :22:22. | |
working closely with the Treasury. I am hearing from my banking sources | :22:23. | :22:26. | |
that banks do not want David Cameron to spark this article 50 provision | :22:27. | :22:32. | |
immediately to begin the process of Britain leaving the U. That would be | :22:33. | :22:38. | |
a two-year process. The banks I am speaking to say that if he does that | :22:39. | :22:42. | |
immediately, they would have to immediately start relocation plans, | :22:43. | :22:45. | |
because a lot of banks only operate across Europe because of the way the | :22:46. | :22:50. | |
single market functions. If you live that market, they may have to move | :22:51. | :22:54. | |
some of their activities and work into the euro area. They want David | :22:55. | :22:59. | |
Cameron to pause, they have asked for calm. Let's listen to Nigel | :23:00. | :23:07. | |
Farage. Even the weather has improved. It | :23:08. | :23:14. | |
has been a hell of a long journey, I first got involved in Euro-sceptic | :23:15. | :23:17. | |
politics 25 years ago, the first election I contested I managed to | :23:18. | :23:23. | |
beat screaming Lord such by 106 24 votes, so I did not come last. Now | :23:24. | :23:29. | |
there are 17 million people that voted for Brexit. It is a victory | :23:30. | :23:34. | |
for ordinary people, decent people, against the big merchant banks, big | :23:35. | :23:41. | |
businesses, big politics. I am proud of everybody that had the courage in | :23:42. | :23:45. | |
the face of all the threats, every thing they were told, they had the | :23:46. | :23:48. | |
guts to stand up and do the right thing. The election was one, in my | :23:49. | :23:56. | |
view, in the Midlands and the North. It was the old Labour vote that came | :23:57. | :24:01. | |
to us. We campaigned as hard as we could in those areas. There is still | :24:02. | :24:08. | |
a massive disconnect between Westminster and real communities. | :24:09. | :24:13. | |
The one image I will remember throughout the rest of my life is a | :24:14. | :24:17. | |
woman in Bolton grabbing my hand with tears in her eyes, she said, | :24:18. | :24:22. | |
why doesn't David Cameron and the Government come and see but they | :24:23. | :24:25. | |
have done to my community, to the prospects for my kids? People here | :24:26. | :24:32. | |
don't understand, they are too wealthy, they don't get what open | :24:33. | :24:36. | |
door mass immigration as a result of EU membership has done to wages, | :24:37. | :24:42. | |
availability of getting GP appointments or their kids into | :24:43. | :24:46. | |
local schools. This was the issue that won this election. I am | :24:47. | :24:52. | |
thrilled we have done this. I believe the other big effect of this | :24:53. | :24:56. | |
is not what has happened in Britain, but what will happen in the rest of | :24:57. | :25:01. | |
Europe. In the rest of the EU Eurosceptic parties never talked | :25:02. | :25:05. | |
about leaving, now they are, and opinion poll in the Netherlands said | :25:06. | :25:08. | |
a majority want to leave. We may well be close am perhaps, to an | :25:09. | :25:17. | |
excerpt. And similarly in Denmark, a majority are in favour of leaving. I | :25:18. | :25:23. | |
am told the same may apply to Sweden and perhaps Austria and perhaps even | :25:24. | :25:28. | |
Italy. The EU is failing, it is dying, I hope we have knocked the | :25:29. | :25:32. | |
first brick out of the wall, and that this is the first step towards | :25:33. | :25:37. | |
a Europe of sovereign nation states, trading together, neighbours | :25:38. | :25:41. | |
together, friends together, but without flags, anthems or useless | :25:42. | :25:44. | |
unelected president. What happens next? 17 million people have said we | :25:45. | :25:53. | |
should leave the EU, we now need a Brexit Government. A Government that | :25:54. | :25:57. | |
gets on with the job, that begins the renegotiation of our trade | :25:58. | :26:01. | |
relationship. That will be mindful that already many of the German | :26:02. | :26:06. | |
comedy during unions have said, let's get on and do a deal, let's go | :26:07. | :26:12. | |
on and sell motorcars and wine and cheese with each other. A Government | :26:13. | :26:17. | |
that at the same time uses the opportunity of Brexit, we are now | :26:18. | :26:24. | |
freed to start making our own trade deals and associations with the rest | :26:25. | :26:30. | |
of the world. We have left behind a failing political union, we have | :26:31. | :26:35. | |
given ourselves a chance to rejoin the world in the 21st century global | :26:36. | :26:41. | |
economy. We need a Brexit Government, we need the negotiations | :26:42. | :26:46. | |
to start as soon as possible, we need to start thinking globally | :26:47. | :26:51. | |
about our future, and June 23 needs to become a national bank holiday, | :26:52. | :26:56. | |
and we will call at Independence Day. | :26:57. | :27:03. | |
Nigel Farage has made free speech is now since 4am. When he sees a | :27:04. | :27:12. | |
camera, he makes another speech, and he will make more. He was not part | :27:13. | :27:19. | |
of the official Leave campaign, interestingly, and he is not in the | :27:20. | :27:23. | |
House of Commons, and many people thought his style of campaigning was | :27:24. | :27:27. | |
not helpful. I don't know if Kate Hoey was among them, but there is | :27:28. | :27:33. | |
the shot, the early morning light. It is not early morning in June, | :27:34. | :27:38. | |
7:30am. The House of Commons, and all of those cameras out on the | :27:39. | :27:44. | |
green. We have had a statement from the Bank of England. | :27:45. | :27:51. | |
I could have written that. No surprise. I am joined by Kate Hoey, | :27:52. | :28:02. | |
the Labour MP for Vauxhall, a Leave campaigner, and Eric Pickles, who is | :28:03. | :28:07. | |
not a Leave campaigner. You heard what Nigel Farage said, recent, | :28:08. | :28:12. | |
ordinary people have one, they are on the side of Leave, and the others | :28:13. | :28:17. | |
are not decent or ordinary and they are just the toffs and experts. What | :28:18. | :28:22. | |
I saw around the country, especially in Labour areas, this feeling that | :28:23. | :28:27. | |
Labour voters felt they had not been listened to, and they had been | :28:28. | :28:32. | |
ignored, they had been called stupid and ignorant and racist for just | :28:33. | :28:40. | |
saying what they thought was wrong. I will come back to you. Jeremy | :28:41. | :28:47. | |
Corbyn has just joined us. Thank you for coming here. You famously said | :28:48. | :28:55. | |
during this campaign you were seven and a half out of ten in favour of | :28:56. | :29:00. | |
remaining, now you are two and a half victorious, and the seven and a | :29:01. | :29:05. | |
half has been abandoned. How do you see the future? Are you an | :29:06. | :29:13. | |
enthusiastic Brexiter now? The British people have made their | :29:14. | :29:17. | |
decision, we must respect the result, and article 50 has to be | :29:18. | :29:20. | |
invoked so we can negotiate an exit from the U. A lot of the message | :29:21. | :29:25. | |
that has come back from this is that many communities are fed up with | :29:26. | :29:31. | |
cuts they have had, fed up with economic dislocation, and feel very | :29:32. | :29:37. | |
angry at the way they have been betrayed and marginalised by | :29:38. | :29:40. | |
successive governments in very poor areas of the country. My point | :29:41. | :29:45. | |
throughout the campaign. We had to have an alternative to austerity, we | :29:46. | :29:50. | |
had to have greater resources going into areas where there has been huge | :29:51. | :29:55. | |
changes, and I called for the introduction of a migrant impact | :29:56. | :29:59. | |
fund as well as proper funding of local authorities. The results are | :30:00. | :30:03. | |
different across the country, different between densely populated | :30:04. | :30:09. | |
urban areas and other parts of the country. We now have to try and | :30:10. | :30:13. | |
protect the working conditions that we have in this country, and in the | :30:14. | :30:19. | |
negotiations with the European Union try to ensure that there are some | :30:20. | :30:24. | |
trade opportunities for Britain, because there are some difficult | :30:25. | :30:27. | |
days ahead, the value of the pound has already fallen, and there will | :30:28. | :30:32. | |
be job consequences as a result of this decision. We have to do evident | :30:33. | :30:36. | |
we can to try to protect jobs and working conditions in Britain. | :30:37. | :30:42. | |
If you want to do everything possible to protect jobs and working | :30:43. | :30:51. | |
conditions, why don't you want to do what Daniel Hannan was suggesting, | :30:52. | :30:56. | |
which was, take it easy? Go and talk to them in Europe, think about it, | :30:57. | :31:00. | |
discuss it, work out a strategy, and gently, gently will be much better | :31:01. | :31:04. | |
than rushing headlong into article 50? Obviously, there has to be a | :31:05. | :31:09. | |
strategy. But the whole point of the referendum was that the public would | :31:10. | :31:12. | |
be asked their opinion. They have given it. And I think it is up to | :31:13. | :31:18. | |
Parliament to act upon that opinion. But quite clearly, negotiations must | :31:19. | :31:21. | |
take race. There must be the best deal possible in order to ensure | :31:22. | :31:25. | |
strong industries in Britain remain strong, and strong industries which | :31:26. | :31:31. | |
have big export markets retain those export markets, as far as we can. | :31:32. | :31:36. | |
But we are in some very difficult areas, that's very obvious to | :31:37. | :31:40. | |
everybody. The accusation that Labour was half started, and you in | :31:41. | :31:46. | |
particular, with your 7.5, I don't know what you mean by that, support | :31:47. | :31:50. | |
for the EU, do you think you could have won this thing if you had been | :31:51. | :31:54. | |
ten out of ten for remaining in the EU? The point I made throughout the | :31:55. | :31:58. | |
campaign, the point the Labour Party made was, there were many people who | :31:59. | :32:02. | |
were not particularly happy with the European Union. The point I was | :32:03. | :32:05. | |
making was, there were good things which had come from Europe in | :32:06. | :32:09. | |
working conditions and environmental and is, but there were other issues | :32:10. | :32:13. | |
which had not been addressed properly, particularly economic | :32:14. | :32:15. | |
inequalities in Britain. And therefore I said that my project was | :32:16. | :32:20. | |
that we should vote to remain, in order to change and reform the | :32:21. | :32:24. | |
European Union, and put forward an economic strategy which is not | :32:25. | :32:26. | |
hostility, isn't punishing the poorest, which is actually trying to | :32:27. | :32:30. | |
ensure that everyone gets a fair crack of the whip. What about | :32:31. | :32:34. | |
immigration? You clearly laid out your view of immigration, and there | :32:35. | :32:39. | |
was no upper limit to immigration into this country. Many of the | :32:40. | :32:44. | |
people who support you and I suspect voted to leave, believe there should | :32:45. | :32:51. | |
be an upper limit. And you were very clear, I remember seeing you say it | :32:52. | :32:54. | |
to Andrew Marr - no upper limit. Was that a mistake? What I was clear | :32:55. | :32:59. | |
about was that within the single market, the European Union, there | :33:00. | :33:03. | |
has to be free movement of people. And that we should also recognise | :33:04. | :33:07. | |
that more than a million British people live in other parts of | :33:08. | :33:12. | |
Europe, and indeed probably almost another million work at various | :33:13. | :33:15. | |
times in other parts of Europe. And so if we remain in the single market | :33:16. | :33:19. | |
come them quite clearly, free movement takes place. But the very | :33:20. | :33:23. | |
strong point I was making was that there had to be an end to the | :33:24. | :33:28. | |
undercutting of wages, to the destroying of working conditions in | :33:29. | :33:31. | |
this country, I people bringing brought in by on scrupulous | :33:32. | :33:34. | |
employers. The point was that nobody should be exploited and we should | :33:35. | :33:40. | |
face that down through the posting of the workers directive. If we no | :33:41. | :33:44. | |
longer have an obligation to take anybody who wishes to come here from | :33:45. | :33:49. | |
the European Union to work, what would Labour's policy be on | :33:50. | :33:54. | |
immigration? Well, at the moment there is controlled immigration from | :33:55. | :33:59. | |
the rest of the world. There are often great difficulties over Family | :34:00. | :34:02. | |
Reunion. There are people who come in with particular skill sets and | :34:03. | :34:07. | |
particular jobs. We will obviously have to develop an immigration | :34:08. | :34:10. | |
policy, which will apply to Europe as well as to the rest of the world. | :34:11. | :34:15. | |
But I think we should also recognise that those who have migrated to this | :34:16. | :34:19. | |
country have made an enormous contribution to our society. Indeed | :34:20. | :34:23. | |
there are 50,000-odd people from other parts of Europe working in our | :34:24. | :34:28. | |
National Health Service. It is an important issue, and we have to | :34:29. | :34:31. | |
recognise the skill sets which many have brought to this country and | :34:32. | :34:36. | |
given us a good standard of living. That is interesting. But do you | :34:37. | :34:40. | |
accept that one of the reasons people voted to leave was because | :34:41. | :34:44. | |
they thought immigration was too high, whether they were right or | :34:45. | :34:46. | |
wrong about that, they did think that? Many probably did, but there | :34:47. | :34:51. | |
is also the question of the impact of migration and the lack of | :34:52. | :34:54. | |
government support for areas which have been most affected. Many of the | :34:55. | :34:58. | |
poorest communities in Britain have had the biggest cuts in central | :34:59. | :35:02. | |
government expenditure to support their local authorities, and at the | :35:03. | :35:05. | |
same time be refused any special help to deal with issues of school | :35:06. | :35:11. | |
places and health places, which are often temporary issues but | :35:12. | :35:15. | |
nonetheless very important. You make an elegant description about the | :35:16. | :35:21. | |
problems which are their, but do you think you just missed a trick here, | :35:22. | :35:25. | |
which was that people were much more worried about actual numerical | :35:26. | :35:30. | |
immigration than you gave them credit for? You always said, it | :35:31. | :35:34. | |
would be all right if there were more housing, it would be all right | :35:35. | :35:37. | |
if we stopped people being sent on lower wages, workers directed and | :35:38. | :35:42. | |
all of that kind of stuff - actually it was the numbers people were | :35:43. | :35:46. | |
worried about? I made those points because that is what I believe to be | :35:47. | :35:50. | |
the right way forward, to end the exploitation of people, whoever they | :35:51. | :35:54. | |
are, and ensure that our local authorities are properly funded in | :35:55. | :35:58. | |
all parts of this country. This government has a strategy of | :35:59. | :36:01. | |
systematically and deliberately underfunding all local authorities | :36:02. | :36:04. | |
in the very poorest areas of this country, which faced the greatest | :36:05. | :36:08. | |
problems. Mr Corbyn, what would you like to see the Prime Minister do | :36:09. | :36:11. | |
now? Do you think there should be an election quite soon, say, in the | :36:12. | :36:18. | |
autumn, because we have had a Prime Minister who urged us to remain, and | :36:19. | :36:21. | |
the country has decided to leave? The Prime Minister has some urgent | :36:22. | :36:25. | |
tasks ahead of him, one of which is to try to use to belies the value of | :36:26. | :36:30. | |
the pound. The other is to try and ensure the continuation of long-term | :36:31. | :36:33. | |
investment in manufacturing and other industries, and then to begin | :36:34. | :36:38. | |
the negotiations on the trade arrangements with the European | :36:39. | :36:41. | |
Union. More than half our exports already go to the European Union. | :36:42. | :36:45. | |
Thousands of companies all over the country rely on trade with the | :36:46. | :36:49. | |
European Union. That relationship with the European Union after exit | :36:50. | :36:52. | |
is absolutely crucial to the economic teacher of this country. I | :36:53. | :36:57. | |
hope the Prime Minister is going to be concentrating very urgently on | :36:58. | :37:00. | |
that. What he does in the longer term is a matter for him to decide | :37:01. | :37:06. | |
what he wants to do and what the Conservative Party wants to do. Our | :37:07. | :37:12. | |
position is that we will oppose any urgent budget which causes further | :37:13. | :37:15. | |
austerity on people. We will support spending more resources in the areas | :37:16. | :37:19. | |
hardest hit by both recession and changes. And we will try to get | :37:20. | :37:25. | |
ready for a society where there is a greater degree of fairness and | :37:26. | :37:28. | |
equality, and obviously, effective and efficient trading relationships | :37:29. | :37:32. | |
with the rest of the world. And in the meantime, is in the national | :37:33. | :37:39. | |
interest, you want to the Prime Minister and the Chancellor to stay | :37:40. | :37:44. | |
in place? I want them now, quite quickly, to decide what they are | :37:45. | :37:47. | |
going to do, to stabilise the pound. The important thing is to try to | :37:48. | :37:51. | |
protect jobs at the present time. Those jobs are partly dependent on | :37:52. | :37:55. | |
the value of the currency, and the export markets which are available. | :37:56. | :37:58. | |
Mr Corbyn, thank you very much for joining us. So, at this point, let's | :37:59. | :38:04. | |
have a full catch up, with the news, with Louise Minchin. Thank you, | :38:05. | :38:10. | |
David. Good morning. Britain has voted to leave the European Union. | :38:11. | :38:14. | |
The result was officially declared in the past half an hour. There have | :38:15. | :38:20. | |
been strong wins for Leave in north-east England and in the | :38:21. | :38:23. | |
Midlands. Scotland and Northern Ireland voted to remain in the EU. | :38:24. | :38:28. | |
Ukip leader and Leave campaigner Nigel Farage said immigration was | :38:29. | :38:33. | |
the key issue. People here do not understand, they are too wealthy, | :38:34. | :38:37. | |
they do not get what open door, massive immigration as a result of | :38:38. | :38:41. | |
EU membership has done to people's wages, to people's availability of | :38:42. | :38:45. | |
getting GPI appointments, or their kids into local schools. This was | :38:46. | :38:48. | |
the issue ultimately which won this election. I am thrilled that we have | :38:49. | :38:55. | |
done this. I believe the other big effect of this election is not what | :38:56. | :38:58. | |
has happened in Britain, but what will happen in the rest of Europe. | :38:59. | :39:04. | |
Labour MP Umunna, who campaign for the Remain vote, said the result has | :39:05. | :39:06. | |
exposed divisions within Britain. What this has exposed | :39:07. | :39:14. | |
is a lot of division. There's 48% of people | :39:15. | :39:18. | |
on the current prediction The result has affected the | :39:19. | :39:32. | |
financial markets, with the pound falling to its lowest point since | :39:33. | :39:33. | |
1985. When the polls closed, | :39:34. | :39:39. | |
it soared. But as they showed stronger | :39:40. | :39:42. | |
than expected support for leaving The Irish government says the | :39:43. | :39:51. | |
decision has very significant implications. The German Foreign | :39:52. | :39:55. | |
Minister said it was a sad day for Europe and Great Britain. The French | :39:56. | :39:56. | |
government will meet to discuss the I will be back in | :39:57. | :44:02. | |
about half an hour. Time to hand you back to our | :44:03. | :44:16. | |
referendum programme. So, hello again. I have been joined by Sir | :44:17. | :44:24. | |
Eric Pickles, newly knighted. And Kate Hoey, the Labour MP, who is in | :44:25. | :44:30. | |
favour of leaving. What do you make of this result? Are you dismayed by | :44:31. | :44:35. | |
what has happened? I am sad and dismayed, but that is democracy. So | :44:36. | :44:39. | |
we have now just got to get on with it. And we need to get on with it | :44:40. | :44:42. | |
with a reasonable degree of speed. We need to ensure that our economy | :44:43. | :44:48. | |
is stable, we need to start the negotiation process. We need to | :44:49. | :44:56. | |
start the negotiation process with people outside the European | :44:57. | :45:02. | |
Community, which previously Europe did full stop and we need to decide | :45:03. | :45:07. | |
exactly the mix that we currently relied on the road European Union to | :45:08. | :45:12. | |
fund. We will have to decide whether that mixture of economic development | :45:13. | :45:18. | |
and farming is the right one in competition with things like the | :45:19. | :45:19. | |
National Health Service. You say none of the fire and | :45:20. | :45:29. | |
brimstone will happen? I am not saying anything close to that. I | :45:30. | :45:34. | |
hope that does not arise. That will mean that the Government will have | :45:35. | :45:38. | |
to move fairly quickly to establish what our economy will look like when | :45:39. | :45:43. | |
we leave, and in particular, given that it is 80% of our economy | :45:44. | :45:48. | |
relying on the service industries, we have to know where they are going | :45:49. | :45:55. | |
to be. Will we see a great flight of firms, which I hope will not be the | :45:56. | :46:00. | |
case, to Frankfurt, for them to be able to trade inside the European | :46:01. | :46:05. | |
community? I am looking for us to try to find a Brexit that leaves our | :46:06. | :46:14. | |
relationship with the European Community on the friendliest terms | :46:15. | :46:18. | |
as is possible. The interesting point is some people said the | :46:19. | :46:27. | |
exaggerations, which... The things they said would happen, which you | :46:28. | :46:32. | |
are talking about not happening, where the things that put people off | :46:33. | :46:34. | |
the campaign. They felt it was rubbish. I have misspoke if you | :46:35. | :46:41. | |
thought that is what I said. We want to avoid the worst case scenario | :46:42. | :46:46. | |
that was carefully outlined during the campaign, which will require an | :46:47. | :46:53. | |
enormous amount of skill. We are just joined by Philip Hammond, the | :46:54. | :46:58. | |
Foreign Secretary. Good morning, thank you for joining us from | :46:59. | :47:03. | |
College Green. What is your reaction? We have heard a lot from | :47:04. | :47:10. | |
abroad about the alarm and despondency it has caused among our | :47:11. | :47:13. | |
allies, what is your role? What will you do? The first thing the | :47:14. | :47:22. | |
Government has got to do is immediately seek to stabilise the | :47:23. | :47:26. | |
situation in the markets are and then moved to begin a process of | :47:27. | :47:29. | |
negotiating the very best possible terms we can get for Britain to | :47:30. | :47:37. | |
leave the EU. Leaving in place as much as we can offer our trading | :47:38. | :47:42. | |
relationships and economic relationships, including the very | :47:43. | :47:45. | |
important role that the City of London plays in Europe's financial | :47:46. | :47:50. | |
economy. That will be the big challenge of the coming months. One | :47:51. | :47:55. | |
of the arguments raised by the Prime Minister, he was criticised for it, | :47:56. | :48:01. | |
was that our security depended upon being in the EU. He spoke about the | :48:02. | :48:06. | |
white gravestones of the first and second world Wars, he did not say | :48:07. | :48:09. | |
there would be a third world war, but he said it would be a more | :48:10. | :48:14. | |
dangerous world. Do you think it is now a more dangerous world? I don't | :48:15. | :48:20. | |
want to overstate the case, but I do think that Britain has been a very | :48:21. | :48:25. | |
positive influence inside the European Union on the security | :48:26. | :48:34. | |
agenda. For example, in responding to Russia's aggression in Ukraine | :48:35. | :48:39. | |
through EU sanctions and keeping the EU united behind those sanctions | :48:40. | :48:45. | |
with a clear and robust position against what Vladimir Putin is doing | :48:46. | :48:50. | |
has been largely due to Britain's influence, and I worried that with | :48:51. | :48:54. | |
Britain now having a hugely diminished voice in this debate we | :48:55. | :49:00. | |
will see that resolve among our European partners wavering. If Nato | :49:01. | :49:05. | |
not sufficient protection against Russia and Vladimir Putin? Nato is | :49:06. | :49:11. | |
our main bulwark against any attack on us, of course, and Nato will | :49:12. | :49:17. | |
remain our principal defence mechanism. That protects us against | :49:18. | :49:24. | |
any attack. What we were doing with economic sanctions was dealing with | :49:25. | :49:27. | |
a situation where we were not directly threatened. Nobody in | :49:28. | :49:32. | |
Western Europe was going to go to war over Ukraine, but we did want to | :49:33. | :49:38. | |
signal our very strong distaste for what the Russians were doing and to | :49:39. | :49:41. | |
signal to the Russians that the course of action would have cost for | :49:42. | :49:46. | |
them. Economic sanctions proved to be quite an effective tool, it | :49:47. | :49:51. | |
worked in Iran, forcing them to abandon their nuclear weapons | :49:52. | :49:55. | |
programme, and it is piling the pressure on Vladimir Putin, but I | :49:56. | :49:59. | |
suspect he will be feeling a bit less pressure and he will be feeling | :50:00. | :50:02. | |
more upbeat about his prospects of eventually getting these EU | :50:03. | :50:09. | |
sanctions watered down. Given how strongly you feel, can you not | :50:10. | :50:12. | |
devise a way of remaining part of that? That is what we have got to | :50:13. | :50:19. | |
do, talk to our former partners in the EU about a way forward in the | :50:20. | :50:24. | |
future. That has got to focus mainly on the trading relationship, that is | :50:25. | :50:31. | |
the thing that is most important to Britain's future prosperity and | :50:32. | :50:34. | |
well-being, but also looking at ways in which we can continue to | :50:35. | :50:41. | |
collaborate with EU partners, many of whom are Nato members, so we do | :50:42. | :50:46. | |
have a platform here, on other issues in the future. Let's look at | :50:47. | :50:52. | |
the EU sanctions on Russia as a sort of bellwether, we have pretty much | :50:53. | :50:57. | |
agreed they will be rolled over in June, but the question is | :50:58. | :51:01. | |
maintaining the robustness of this ancient regime going forward after | :51:02. | :51:06. | |
June, and Britain's voice in that debate has been a very important one | :51:07. | :51:10. | |
over the last 18 months. We will still be members of the EU in June, | :51:11. | :51:16. | |
because it cannot be unscramble that quickly. We role in the sanctions | :51:17. | :51:23. | |
over. We will remain members of the EU for at least the next two years, | :51:24. | :51:27. | |
but nobody can imagine that our voice in the EU will carry weight as | :51:28. | :51:36. | |
of today. We will not be in effect a party to those positions which the | :51:37. | :51:42. | |
EU is making. Our relationship with the EU as of 6am changed | :51:43. | :51:48. | |
fundamentally, it is now one of a semi-outsider negotiating future | :51:49. | :51:53. | |
arrangements. We cannot expect to have a voice that carries the full | :51:54. | :51:58. | |
weight of the second largest member state, as we had last week. Were you | :51:59. | :52:07. | |
surprised by the result? Yes. But I won't be the first politician in | :52:08. | :52:10. | |
history that has missed red what is going on on an election day or a | :52:11. | :52:17. | |
referendum day. We have always been clear that we would accept the | :52:18. | :52:21. | |
decision of the British people and we would deliver the instructions | :52:22. | :52:27. | |
that they gave the Government. Our job now is to calm the situation, | :52:28. | :52:31. | |
stabilise the markets, reunite the country, and then let's move forward | :52:32. | :52:36. | |
to deliver the very best outcome we possibly can. Honestly, I believe | :52:37. | :52:42. | |
that outcome economic league in particular will not be as good as it | :52:43. | :52:46. | |
would have been if we had remained in the EU, but our job collectively | :52:47. | :52:54. | |
is to make sure it is as good as it possibly can be in the | :52:55. | :52:57. | |
circumstances, that we get the best deal we can with EE you for Britain | :52:58. | :53:00. | |
going forward. Jeremy. A look at comparisons with 1975, the | :53:01. | :53:14. | |
first referendum on being a member of the EU. We are in our virtual | :53:15. | :53:19. | |
Elizabeth's tower at Westminster, the clock showing the right time. | :53:20. | :53:25. | |
You can see the level of Euroscepticism, just above 30%, in | :53:26. | :53:36. | |
1975. Have a look at what happens when I bring in the 2016 result. It | :53:37. | :53:42. | |
goes above 50%, a majority in England against being part of the | :53:43. | :53:47. | |
EU. A bigger majority than across the whole of the UK as an average. | :53:48. | :53:54. | |
We will compare the other part of this nation. Wales in 1975, the | :53:55. | :54:02. | |
Eurosceptic vote about 35%, but last night it went up again into a | :54:03. | :54:10. | |
majority, about 53%. Wales and England both a bit more doubtful | :54:11. | :54:13. | |
about the U and they were 40 years ago. A different story in Northern | :54:14. | :54:24. | |
Ireland. More Eurosceptic than either Wales or England in 1975, | :54:25. | :54:32. | |
nearly 50%, but now less so. They are becoming a bit more accustomed | :54:33. | :54:36. | |
to the EU, just as we are pulling out. You know what is coming in | :54:37. | :54:47. | |
Scotland. We go back in time. 41% wanting out in 1975, and in the last | :54:48. | :54:54. | |
24 hours, down to about 37%. It is a divided nation. Scotland wants to | :54:55. | :55:00. | |
stay in, England is effectively, along with Wales, pulling Scotland | :55:01. | :55:05. | |
out. An interesting situation. Northern Ireland and Scotland have | :55:06. | :55:09. | |
become less Eurosceptic and England and Wales more so. | :55:10. | :55:14. | |
We are waiting to hear, sometime after 8am, from the Prime Minister | :55:15. | :55:21. | |
at Downing Street. We don't know what he will say, we were | :55:22. | :55:24. | |
speculating whether he would hint that he might be leaving office, | :55:25. | :55:27. | |
maybe in the autumn, or whether he would do need -- do the | :55:28. | :55:36. | |
negotiations. Each time I have spoken to you, you have been cut | :55:37. | :55:42. | |
off! I have got to be cut off by the leader of my own party! Sadiq Khan | :55:43. | :55:47. | |
said that project hate was what you were on about doing this campaign. | :55:48. | :55:54. | |
And that it was an unpleasant, nasty campaign. He attacked Boris Johnson, | :55:55. | :55:58. | |
but he may just as well have been attacking you. I made criticisms of | :55:59. | :56:06. | |
campaigns on both sides. It has been difficult for people to talk about | :56:07. | :56:11. | |
immigration in a rational, Fairway, without being accused of being some | :56:12. | :56:18. | |
kind of closet racist. That has hurt a lot of people across the country | :56:19. | :56:22. | |
who felt that they have not been listened to before. Where the Labour | :56:23. | :56:30. | |
Party has failed over many years is to see that that is something that | :56:31. | :56:35. | |
really matters to people. It is not being anti-immigration to be able to | :56:36. | :56:39. | |
talk rationally about how you control numbers of people coming | :56:40. | :56:42. | |
into the country. No matter how many resources go into things, we need to | :56:43. | :56:50. | |
know, and we need to get rid of the discrimination against people from | :56:51. | :56:56. | |
outside the EU, which is very apparent in all those countries, | :56:57. | :56:59. | |
former Commonwealth countries, parts of Africa and Asia, where it is | :57:00. | :57:03. | |
difficult for some buddy to come in, yet you can come in unchallenged | :57:04. | :57:08. | |
from any of those 26 other countries. How could Labour have | :57:09. | :57:16. | |
talked about this? It is a rule of the EU that they can do that, so the | :57:17. | :57:22. | |
only way they could have done that is by saying they want to leave the | :57:23. | :57:29. | |
EU. That is what the Labour Party was, a sceptic party. That changed | :57:30. | :57:33. | |
because there was a terrible worry about what would happen under | :57:34. | :57:35. | |
Margaret Thatcher in terms of workers' writes. But everything that | :57:36. | :57:43. | |
we got in terms of our rights at work are enshrined in British law. | :57:44. | :57:46. | |
The scaremongering that went on about how we would lose those if we | :57:47. | :57:51. | |
were to leave, people waking up this morning, some people would think | :57:52. | :57:54. | |
they have no benefits anymore, maternity rights and so on, and | :57:55. | :58:02. | |
project fear was completely ignored by huge number is of people, | :58:03. | :58:08. | |
especially out of London. I was around a lot out of London, it was | :58:09. | :58:13. | |
so different. The leadership of all the parties did not seem to be | :58:14. | :58:16. | |
listening to that. It was a very different scene outside London. I | :58:17. | :58:22. | |
did some rallies last week in the north-east, it was so obvious that | :58:23. | :58:25. | |
people were not going to follow the leader of the party's view, even | :58:26. | :58:29. | |
though I believe that the leader of my party... I don't think he is | :58:30. | :58:36. | |
desperately unhappy today. Why could you only persuade ten of your fellow | :58:37. | :58:42. | |
MPs? It was 15 in the end. I have always said we were a minority in | :58:43. | :58:48. | |
Parliament, but I represent, and others do, 45% of Labour voters in | :58:49. | :58:58. | |
the country. The party was very silly not to allow a much more free | :58:59. | :59:04. | |
view on this. The idea that they were going to say, you must vote | :59:05. | :59:10. | |
Labour, but as you vote Labour, you must vote for the EU, it was never | :59:11. | :59:16. | |
going to work. You say nearly half Labour voters were with you in | :59:17. | :59:23. | |
voting to leave? All faults we did even a month ago, we had 35 to 45% | :59:24. | :59:29. | |
of Labour supporters, and the thing that most concerns me is the people | :59:30. | :59:31. | |
we have lost over the last few years, we will find it difficult to | :59:32. | :59:36. | |
get them back now, because they have been ignored again by the Labour | :59:37. | :59:41. | |
leadership. We have a quote from the president of the European Council. | :59:42. | :00:00. | |
We have been in touch with some of the campaigns in other countries, we | :00:01. | :00:05. | |
will see a lot of referendums now coming in. Probably Holland. On the | :00:06. | :00:14. | |
same lines? I think it will be, in one or two of the other... Unless | :00:15. | :00:19. | |
the EU and the other commissioners see this as a catalyst to start to | :00:20. | :00:24. | |
change the way they work. I don't think the form is possible. Jeremy | :00:25. | :00:28. | |
Corbyn believed it is a neoliberal organisation that is dysfunctional, | :00:29. | :00:32. | |
but he thinks it can be reformed, but I don't. We will have the news | :00:33. | :00:41. | |
again, and the weather. All important. | :00:42. | :00:49. | |
Good morning. Britain is to leave the EU, the official was all of the | :00:50. | :00:52. | |
referendum was announced in the past hour. North-eastern England and the | :00:53. | :00:58. | |
Midlands voted strongly to leave, but the Remain campaign when a | :00:59. | :01:01. | |
majority in Scotland and Northern Ireland. | :01:02. | :01:07. | |
Well, at 20 minutes to five, we can now say the decision taken | :01:08. | :01:12. | |
in 1975 by this country to join the Common market has been reversed | :01:13. | :01:15. | |
We are absolutely clear now that there is no way | :01:16. | :01:22. | |
Watch and listen carefully - this is history in the making... | :01:23. | :01:30. | |
The British people have spoken, and the answer is, we are out. | :01:31. | :01:33. | |
And these were the celebrations just moments before the BBC | :01:34. | :01:36. | |
In the last hour, the official result. The total in favour of Leave | :01:37. | :02:01. | |
was... A final tally of 52% to 48%. Ukip celebrated overnight. By | :02:02. | :02:05. | |
daylight, things were sinking in. Good morning, everybody. The sun has | :02:06. | :02:13. | |
risen on an independent United Kingdom. And just look at it, even | :02:14. | :02:19. | |
the weather has improved. As Leave campaigners celebrated, on the other | :02:20. | :02:22. | |
side, the blame game started. I absolutely accuse Jeremy Corbyn and | :02:23. | :02:26. | |
the Labour leadership of utter spinelessness in not involved in | :02:27. | :02:31. | |
this campaign for Britain Britain's very soul and future. The Labour | :02:32. | :02:35. | |
leader said he accepted the decision, adding that there was a | :02:36. | :02:40. | |
clear message from the result. Many communities are fed up with cuts | :02:41. | :02:45. | |
they have had, fed up with economic dislocation and feel very angry at | :02:46. | :02:48. | |
the way they have been betrayed and marginalised by successive | :02:49. | :02:52. | |
governments in very poor areas of the country. And with the pound | :02:53. | :02:57. | |
plunging, Remain campaigners warned of turmoil ahead. This is a seismic | :02:58. | :03:05. | |
moment for our country. It goes far beyond all the personalities. There | :03:06. | :03:07. | |
will be a lot of chat about David Cameron. This is a big thing for our | :03:08. | :03:12. | |
country. It has exposed a lot of division. There is talk as if this | :03:13. | :03:17. | |
is an overwhelming win. It isn't. 48% of people on the current | :03:18. | :03:20. | |
projection did not vote for this. But this prominent Leave campaigners | :03:21. | :03:25. | |
called for cross-party co-operation. We have a responsibility to act in | :03:26. | :03:29. | |
the best long-term interests of this country. Voters will now reflect on | :03:30. | :03:36. | |
their verdict. The instruction they have given to Westminster. But the | :03:37. | :03:39. | |
magnitude of this moment may only become clear in the weeks and months | :03:40. | :03:48. | |
ahead. The result has affected the financial markets, with the pound | :03:49. | :03:52. | |
falling to its lowest point since 1985. When the polls closed, it | :03:53. | :03:59. | |
rose, but as the Leave result became clear, it began to plummet. The Bank | :04:00. | :04:04. | |
of England says it is monitoring developments closely. Scotland's | :04:05. | :04:08. | |
First Minister has suggested that the Leave vote will reignite demands | :04:09. | :04:10. | |
for an independence referendum there. All 32 Scottish local | :04:11. | :04:23. | |
authorities returned verdicts for Remain. We will go back to the | :04:24. | :04:27. | |
results programme in a moment. First, the weather, with Carol. Good | :04:28. | :04:36. | |
morning. Today, pollen levels are high or very high, except for | :04:37. | :04:39. | |
northern Scotland, where they are moderate. You will be hugely unlucky | :04:40. | :04:46. | |
if you catch a shower today in these areas. However, a cross Scotland, | :04:47. | :04:52. | |
Wales and Northern Ireland, there will be a plethora of showers. Some | :04:53. | :04:56. | |
of them will be thundery, with some hail. Northern Ireland will have | :04:57. | :05:04. | |
that mixture of sunshine and showers. There will be lengthy | :05:05. | :05:07. | |
spells of sunshine in the south-west of England. Showers in the Midlands, | :05:08. | :05:14. | |
but dry with some sunshine in Kent and also in East Anglia and the | :05:15. | :05:17. | |
south-east. Heading through the evening and overnight, many of the | :05:18. | :05:22. | |
showers will fade, but they will continue across the north and the | :05:23. | :05:26. | |
west. We will have some clear skies, but it is not going to be a cold | :05:27. | :05:31. | |
night. Most of the UK will stay in double figures. That is how we start | :05:32. | :05:35. | |
the day tomorrow. Tomorrow, once again, we are looking at a mixture | :05:36. | :05:39. | |
of sunshine and showers. But the distribution of the showers will be | :05:40. | :05:43. | |
slightly different. We will have fewer showers in the north and west | :05:44. | :05:47. | |
and more across central and eastern parts, and some of those will be | :05:48. | :05:51. | |
heavy and thundery. In between them, there will be some sunshine. On | :05:52. | :05:56. | |
Sunday, we have got a weather front coming in from the Atlantic. That's | :05:57. | :06:03. | |
going to introduced some rain. It will be moving slowly eastwards as | :06:04. | :08:06. | |
Hello again. We're going to be joined by somebody who is now very | :08:07. | :08:29. | |
important for the Conservative Party in all of these discussions which | :08:30. | :08:33. | |
will be taking place. Graham Brady, who is the chairman of the powerful | :08:34. | :08:39. | |
1922 Committee. He was in favour of Brexit, and he has got Brexit. Mr | :08:40. | :08:46. | |
Brady, first question - have you, as some people say, got 50 letters in | :08:47. | :08:51. | |
your pocket or in your office, readily signed, wanting a leadership | :08:52. | :08:55. | |
contest right away? No, I can knock that on the head straightaway. The | :08:56. | :09:01. | |
procedures are very simple, they're set out in the course to juicing of | :09:02. | :09:05. | |
the Conservative Party. If that were to be the case, then I would have | :09:06. | :09:09. | |
had to communicate that to the Prime Minister already and we would have | :09:10. | :09:13. | |
begun a process for a confidence vote. So I can clearly say, no, I | :09:14. | :09:18. | |
have not got 50 letters. Furthermore, my own personal view is | :09:19. | :09:22. | |
that it is very important that David Cameron remains in post, in office, | :09:23. | :09:27. | |
and continues to steer the course, now that we have this very clear | :09:28. | :09:31. | |
result from the people. So how long? That is a matter for him. Hang on, | :09:32. | :09:38. | |
it is not a matter for him, it is a matter for you pass EU the party and | :09:39. | :09:44. | |
you can decide, as you have just said. I think the really important | :09:45. | :09:49. | |
thing in the moment is that we have got a clear steer from the British | :09:50. | :09:53. | |
public, they would like to restore the position where we can make our | :09:54. | :09:56. | |
own laws and set our own taxes and control our own borders. We know | :09:57. | :10:01. | |
what we have to do, but it is a difficult, complicated thing to | :10:02. | :10:04. | |
achieve. It will take a period of time. And I think it is the real | :10:05. | :10:08. | |
important that we have continuity and stability. And I think that | :10:09. | :10:12. | |
David Cameron remaining in office is really crucial. We need to settle | :10:13. | :10:15. | |
the markets over the coming days, and we need to move forward to a | :10:16. | :10:19. | |
credible plan for implementing the will of the people. How easy will it | :10:20. | :10:27. | |
be for him to, put it this way, eat humble pie, except that he has lost, | :10:28. | :10:32. | |
and then suddenly turn around and adopt the opinions of the other | :10:33. | :10:37. | |
side? Well, I think we have to remember that David Cameron | :10:38. | :10:42. | |
delivered a referendum. It is implicit in holding a referendum of | :10:43. | :10:44. | |
this sort that you have to accept the will of the people at the end of | :10:45. | :10:50. | |
it. He made it clear before the result was known that he would | :10:51. | :10:53. | |
continue in office, whatever the outcome. So I think it is obviously | :10:54. | :10:59. | |
his intention, and obviously the right thing for the country. We need | :11:00. | :11:03. | |
a period of stability and continuity. It is quite front, | :11:04. | :11:11. | |
though. In 1975, which I had the good fortune to cover, Harold Wilson | :11:12. | :11:17. | |
did not do that. He stood back and let his cabinet ministers fight it | :11:18. | :11:23. | |
out. David Cameron has been at the front of the campaign. He gave a | :11:24. | :11:25. | |
special press conference on the roof, he has paint -- he has been | :11:26. | :11:31. | |
campaigning all the way through. It is not like Harold Wilson, it is | :11:32. | :11:36. | |
more like fighting a general election and losing, isn't it? Well, | :11:37. | :11:41. | |
I think it would have been better had the Prime Minister remained | :11:42. | :11:44. | |
above the fray throughout the campaign. He chose not to, but it | :11:45. | :11:47. | |
was clear throughout that whatever the outcome, he would remain Prime | :11:48. | :11:53. | |
Minister. I think what we have seen in this result, of 52-48, is clear | :11:54. | :12:03. | |
enough as it is. But I think there is something even more important, if | :12:04. | :12:08. | |
you contrast this to 1975, which is that the clear, overwhelming | :12:09. | :12:12. | |
inclination of the British people was to be free from the political | :12:13. | :12:18. | |
union of the EU. And I think it was really a matter for the vast | :12:19. | :12:23. | |
majority of the public, either they were enthusiastic Brexiters or they | :12:24. | :12:38. | |
were reluctant Remainers. We can go down to Schroders and join Simon | :12:39. | :12:43. | |
Jack, who has news about the start of trading. What is the news? Yes, | :12:44. | :12:52. | |
well, you can conjecture about the future. Here and now, the FTSE-100 | :12:53. | :12:58. | |
opened a few moments ago. It is down 500 points already, that's a .5%. | :12:59. | :13:03. | |
Hardly surprising after the record fall in Stirling we saw overnight. | :13:04. | :13:07. | |
Some of the big people getting really hit our house builders and | :13:08. | :13:12. | |
banks. Barclays is down 35% this morning in early trading. Some of | :13:13. | :13:17. | |
the house-builders down 40%. There are fears that this could hit the | :13:18. | :13:22. | |
property market. Some really, really severe pounding is being taken by | :13:23. | :13:25. | |
some of the shares. It has found a level. Stirling has gone up a bit | :13:26. | :13:32. | |
since it fell 10% overnight. But some really big moves, financial | :13:33. | :13:36. | |
shock waves being felt throughout the City. -- sterling. In your | :13:37. | :13:42. | |
experience, is it the kind of thing which will bounce back in a couple | :13:43. | :13:47. | |
of days? I think with the banks, the Bank of England will come out and | :13:48. | :13:51. | |
say, we stand ready to do this, we knew there might be some shock waves | :13:52. | :13:54. | |
if we got this result, so we are there to make sure this does not | :13:55. | :13:58. | |
turn into anything nastier. As for house-builders, this will be a real | :13:59. | :14:02. | |
blow to confidence. Whenever you think about the property market | :14:03. | :14:06. | |
perhaps being affect the, the banks and perhaps house-builders get hit | :14:07. | :14:15. | |
first. They do tend to bounce back in time. But I think that losses of | :14:16. | :14:19. | |
that magnitude really illustrate just how powerful the shock waves | :14:20. | :14:24. | |
are which are being felt in the City for there was this nagging feeling | :14:25. | :14:28. | |
going into the referendum - who has got this right? Is it the City or is | :14:29. | :14:33. | |
it the polls? The City was rather complacently, the pound was riding | :14:34. | :14:36. | |
high until midnight last night. And then it turned out the polls Welbeck | :14:37. | :14:40. | |
tick and the City was wrong. There was an almighty beckoning on | :14:41. | :14:43. | |
sterling overnight, when it fell twice as much as it did on Black | :14:44. | :14:48. | |
Wednesday in 1992. That is having reverberations on the markets in | :14:49. | :14:52. | |
Asia. The FTSE-100 as a whole, which has lots of international companies, | :14:53. | :14:58. | |
is down 8.5%. You go below that, to the FTSE 250, that is down 12.5%. | :14:59. | :15:05. | |
And the ones in the firing line for economic shocks, the banks, are down | :15:06. | :15:06. | |
in some cases by 35%. The waiting for the Prime Minister, | :15:07. | :15:19. | |
is about to come out. The podium is being put out, this is not confirmed | :15:20. | :15:22. | |
by any stretch, but there is a rumour that when David Cameron comes | :15:23. | :15:29. | |
out, he may be going to resign as Prime Minister after six years. I | :15:30. | :15:36. | |
must stress it is by not -- not by any stretch a confirmation, but up | :15:37. | :15:39. | |
and down the press pack that suggestion is now being made. David | :15:40. | :15:47. | |
Cameron, his first priority will be to urge stability in the wake of | :15:48. | :15:52. | |
this tumultuous result, the result that means a very significant defeat | :15:53. | :15:57. | |
for him, a drain on his authority, senior Tories have said that they | :15:58. | :16:04. | |
don't believe he has to go, but it sounds as if he has made that | :16:05. | :16:08. | |
personal calculation that it might be the right thing for him to do | :16:09. | :16:12. | |
that. I must stress that is not confirmed by any stretch, at the | :16:13. | :16:18. | |
suggestion, as these things often happen, the rumour swelled up and | :16:19. | :16:21. | |
down Downing Street on a morning such as this, David Cameron may be | :16:22. | :16:27. | |
about to announce he is leaving office. But I hate to sound as if I | :16:28. | :16:33. | |
am adding all sorts of caveats, but we can't be clear on that yet. We | :16:34. | :16:37. | |
will hear from the horse's mouth in a moment. What did you think he will | :16:38. | :16:47. | |
do? I think... I voted for Ken. I am a late, to the David Cameron camp. I | :16:48. | :16:55. | |
think he has been an outstanding leader, Cameron, he has been a great | :16:56. | :17:00. | |
Prime Minister. It is a devastating blow to him. It is a devastating | :17:01. | :17:06. | |
blow to our country. There are a lot of people waking up, most of my | :17:07. | :17:10. | |
friends are not politicians, I lead a fairly normal life, I am an East | :17:11. | :17:17. | |
Midlands girl, I have seen and heard stuff I have not heard since I was a | :17:18. | :17:23. | |
student back in the late 70s, people thinking it is acceptable not only | :17:24. | :17:28. | |
to shake trait -- to shout traitor, but to say, I am voting out because | :17:29. | :17:37. | |
I want the criticisms -- I want the immigrants out. We have unleashed | :17:38. | :17:41. | |
something. I heard Chuka Umunna talking about the need to repair, | :17:42. | :17:47. | |
and he is right. That over line tolerance of Britain has been | :17:48. | :17:52. | |
removed from large sections. If you look at the vote, it has to be said | :17:53. | :17:57. | |
that there has been a large vote from white working-class Labour | :17:58. | :18:04. | |
areas. They have voted in the face of the fact that they have never | :18:05. | :18:07. | |
seen a migrant, but it is the fault of politicians, because you for | :18:08. | :18:13. | |
decades say that the EU is rubbish and the root of many concerns and | :18:14. | :18:18. | |
say that migrants need controlling, as opposed to saying how much they | :18:19. | :18:23. | |
contribute, and then say, actually, in four and half months, not only | :18:24. | :18:28. | |
ignore what we have told you... I have always been in favour of us | :18:29. | :18:33. | |
staying in, but then say, not only do you accept the opposite from what | :18:34. | :18:37. | |
we have said, but go out and vote for it. We can't be surprised at | :18:38. | :18:41. | |
this. The Prime Minister is coming out. With his wife beside him. That | :18:42. | :18:52. | |
suggests a personal statement. A giant democratic exercise, perhaps | :18:53. | :18:57. | |
the biggest in our history. Over 33 million people from England, | :18:58. | :19:02. | |
Scotland, Wales Northern Ireland and Gibraltar have all had their say. We | :19:03. | :19:06. | |
should be proud of the fact that in these islands we trust the people | :19:07. | :19:11. | |
with these big decisions. We not only have a parliamentary democracy, | :19:12. | :19:16. | |
but on questions about the arrangements for how we are | :19:17. | :19:19. | |
governed, there are times when it is right to ask the people themselves, | :19:20. | :19:23. | |
and that is what we have done. The British people have voted to leave | :19:24. | :19:27. | |
the European Union, and there will must be respected. I want to thank | :19:28. | :19:32. | |
everybody who took part in the campaign on my side of the argument, | :19:33. | :19:37. | |
including all those who put aside party differences to speak in what | :19:38. | :19:41. | |
they believed was the national interest. Let me congratulate all | :19:42. | :19:48. | |
those who took part in the Leave campaign, for the spirited and | :19:49. | :19:52. | |
passionate case they made. The will of the richest people is an | :19:53. | :19:56. | |
instruction that must be delivered. -- of the British people. It was not | :19:57. | :20:03. | |
taken lightly, so many things were said by so many different | :20:04. | :20:05. | |
organisations about the significance of this decision. There can be no | :20:06. | :20:12. | |
doubt about the result. Across the world, people have been watching the | :20:13. | :20:17. | |
choice that Britain has made. I would reassure those markets and | :20:18. | :20:21. | |
investors that Britain's economy is fundamentally strong. I would also | :20:22. | :20:27. | |
reassure Brits living in European countries and European citizens | :20:28. | :20:31. | |
living here that there will be no immediate changes in your | :20:32. | :20:35. | |
circumstances. There will be no initial change in the way our people | :20:36. | :20:39. | |
can travel in the way our goods can move or in the way our services can | :20:40. | :20:45. | |
be sold. We must now prepare for a negotiation with the European Union. | :20:46. | :20:50. | |
This will need to involve the full engagement of the Scottish, Welsh | :20:51. | :20:55. | |
and Northern Ireland Government. To ensure the interests of all parts of | :20:56. | :20:59. | |
our United Kingdom are protected and advanced. Above all, this will | :21:00. | :21:05. | |
require strong, determined and committed leadership. I am very | :21:06. | :21:11. | |
proud and honoured to have been Prime Minister of this country for | :21:12. | :21:14. | |
six years. I believe we have made great steps, with more people in | :21:15. | :21:20. | |
work than ever before in our history, with reforms to welfare and | :21:21. | :21:25. | |
education, increasing people's life chances, building a bigger and | :21:26. | :21:29. | |
stronger society, keeping our promises to the poorest people in | :21:30. | :21:32. | |
the world, and enabling those who love each other to get married, | :21:33. | :21:37. | |
whatever their sexuality. But above all, restoring Britain's economic | :21:38. | :21:43. | |
strength. I am grateful to everybody who has helped make that happen. I | :21:44. | :21:47. | |
have also always believed that we have to confront big decisions, not | :21:48. | :21:52. | |
duck them. That is why we delivered the first Coalition Government in 70 | :21:53. | :21:57. | |
years to bring our economy back from the brink. That is why we delivered | :21:58. | :22:03. | |
a fair legal and decisive referendum in Scotland. It is why I made the | :22:04. | :22:08. | |
pledge to renegotiate Britain's position in the European Union and | :22:09. | :22:11. | |
to hold a referendum on our membership, and have carried those | :22:12. | :22:15. | |
things out. I thought this campaign in the only way I know how, which is | :22:16. | :22:20. | |
to say directly and passionately what I think and feel, head, heart | :22:21. | :22:29. | |
and soul. I held nothing back. I was absolutely clear about my belief | :22:30. | :22:34. | |
that Britain is stronger, safer and better off inside the European | :22:35. | :22:37. | |
Union. I made clear the referendum was about this and this alone, not | :22:38. | :22:42. | |
the future of any single politician, including myself. But the British | :22:43. | :22:48. | |
people have made a very clear decision to take a different path, | :22:49. | :22:53. | |
and as such, I think the country requires fresh leadership to take it | :22:54. | :22:58. | |
in this direction. I will do everything I can as Prime Minister | :22:59. | :23:02. | |
to steady the ship over the coming weeks and months, but I do not think | :23:03. | :23:07. | |
it would be right for me to try to be the captain that steers our | :23:08. | :23:12. | |
captain -- our country to its next destination. This is not a decision | :23:13. | :23:15. | |
I have taken lightly, but I do believe it is in the national | :23:16. | :23:19. | |
interest to have a period of stability and then the new | :23:20. | :23:23. | |
leadership required. There is no need for a precise timetable today, | :23:24. | :23:27. | |
but in my view we should aim to have a new Prime Minister in place by the | :23:28. | :23:31. | |
start of the Conservative Party conference in October. Delivering | :23:32. | :23:36. | |
stability will be important, and I will continue in post as Prime | :23:37. | :23:40. | |
Minister with my cabinet for the next three months. The Cabinet will | :23:41. | :23:45. | |
meet on Monday, the governor of the Bank of England is making a | :23:46. | :23:48. | |
statement about the steps that the bank and the Treasury are taking to | :23:49. | :23:53. | |
reassure financial markets. We would also continue taking forward the | :23:54. | :23:56. | |
important legislation that we said before Parliament in the Queen's | :23:57. | :24:00. | |
Speech, and I have spoken to Her Majesty The Queen this morning to | :24:01. | :24:03. | |
advise her of the step that I am taking. A negotiation with the | :24:04. | :24:08. | |
European Union will need to begin under a new Prime Minister. I think | :24:09. | :24:13. | |
it is right that this Prime Minister takes the decision about when to | :24:14. | :24:17. | |
trigger Article 50 and start the formal and legal process of leaving | :24:18. | :24:24. | |
the EU. I will attend the European Council next week to explain the | :24:25. | :24:27. | |
decision the British people have taken and my own decision. The | :24:28. | :24:32. | |
British people have made a choice, that not only needs to be respected, | :24:33. | :24:37. | |
but those on the losing side of the argument, myself included, should | :24:38. | :24:44. | |
help to make it work. Britain is a special country, we have so many | :24:45. | :24:48. | |
great advantages, a parliamentary democracy where we resolve great | :24:49. | :24:51. | |
issues about our future through peaceful debate, a great trading | :24:52. | :24:59. | |
nation with our science and arts our engineering and creativity respected | :25:00. | :25:03. | |
the world over, and while we are not perfect, I believe we can be a model | :25:04. | :25:07. | |
of a multiracial, multi-faith democracy, where people can make a | :25:08. | :25:11. | |
contribution and rise to the very highest that their talent allows. | :25:12. | :25:15. | |
Although leaving Europe was not the path I recommended, I am the first | :25:16. | :25:19. | |
to praise our incredible strength is. I have said before that Britain | :25:20. | :25:25. | |
can survive outside the European Union, and indeed that we could find | :25:26. | :25:30. | |
a way. Now the decision has been made to leave, we need to find the | :25:31. | :25:35. | |
best way. I will do everything I can to help. I love this country, and I | :25:36. | :25:42. | |
feel honoured to have served it. I will do everything I can in future | :25:43. | :25:46. | |
to help this great country succeed. Thank you very much. | :25:47. | :25:53. | |
The Prime Minister with Samantha. His voice breaking as he said those | :25:54. | :25:57. | |
last words, announcing he would stand down and they needed a new | :25:58. | :26:03. | |
leader, a new Prime Minister by October, and only then would | :26:04. | :26:09. | |
negotiations begin with the EE you. He said he had been head, heart and | :26:10. | :26:14. | |
soul, held nothing back, in his belief Britain was safer inside the | :26:15. | :26:19. | |
EU, but it. The future of politicians that was at stake, and | :26:20. | :26:24. | |
the country had decided what they had decided, and he would go along | :26:25. | :26:28. | |
with it. The Prime Minister has in effect stood down, but not for | :26:29. | :26:32. | |
another three months, it'll the Conservative Party conference. What | :26:33. | :26:37. | |
is your immediate reaction? I think it is terrible. Terribly sad. | :26:38. | :26:45. | |
Truthfully, he had no alternative. I hope he will be remembered... This | :26:46. | :26:51. | |
is a true body blow. He led from the front. He has shown this beautiful | :26:52. | :26:58. | |
composure, this remarkable leadership, this great courage, to | :26:59. | :27:03. | |
admit, I put my neck on the line, and here we are. His testimony will | :27:04. | :27:10. | |
be same-sex marriage, trying to do the best for poor people at home and | :27:11. | :27:15. | |
abroad, he has been a remarkable Prime Minister, and I hope this will | :27:16. | :27:23. | |
not cloud our memory of him. We are now faced with a leadership battle | :27:24. | :27:27. | |
between now and October, and according to the Prime Minister, | :27:28. | :27:30. | |
before negotiations can begin with the EU. Yes, we are. Three very big | :27:31. | :27:41. | |
headlines. The first that the Prime Minister has decided he has no | :27:42. | :27:44. | |
option but to walk out of Downing Street, to leave this place, where | :27:45. | :27:49. | |
he has been in charge for six years, the ultimate irony that the younger, | :27:50. | :27:54. | |
freshfaced Tory leader who told his party to stop banging on about | :27:55. | :27:58. | |
Europe made a decision to hold a referendum to bang on about Europe | :27:59. | :28:02. | |
himself, which has ultimately cost him his job. His closest colleagues | :28:03. | :28:07. | |
have always called him a lucky politician, but on this alternate | :28:08. | :28:10. | |
gamble, his luck has dramatically run out. He was very clear, and this | :28:11. | :28:18. | |
was part of his decision, that triggering article 50, the beginning | :28:19. | :28:21. | |
of those vital negotiations with other countries in the EU, should be | :28:22. | :28:27. | |
done under a new Prime Minister, under new leadership, and that in | :28:28. | :28:30. | |
his view cannot therefore start until the Tory party conference in | :28:31. | :28:35. | |
October. Article 50 will not be triggered immediately. This morning | :28:36. | :28:41. | |
he is saying to think the polar opposite of what he said repeatedly | :28:42. | :28:44. | |
in the campaign will stop the repeatedly said he would not have to | :28:45. | :28:48. | |
resign if he lost and that is Prime Minister he would trigger that | :28:49. | :28:54. | |
Article 50, those negotiations, immediately. On both of those | :28:55. | :28:59. | |
things, after the result, his calculations have completely | :29:00. | :29:04. | |
changed. How effective can he be? There will be a battle going on in | :29:05. | :29:08. | |
the party over who is to succeed him. However active can he be at | :29:09. | :29:14. | |
doing everything to steady the ship? He said he is not the captain to | :29:15. | :29:17. | |
lead the ship to the next test the nation. It is extremely difficult. | :29:18. | :29:24. | |
Authority has drained away from him overnight. It will be very difficult | :29:25. | :29:28. | |
to see what kind of influence he can have now over domestic policy or | :29:29. | :29:33. | |
handling those relations around the EU. There is a European summit next | :29:34. | :29:39. | |
week in Brussels, he said he would still go and explain his decision, | :29:40. | :29:43. | |
and have to explain this referendum result to those other European | :29:44. | :29:47. | |
leaders with whom he has dealt for many years, but you are right, this | :29:48. | :29:52. | |
means that for the Conservative Party the focus will move to who is | :29:53. | :29:57. | |
going to succeed him. Frankly, the entire referendum campaign has been | :29:58. | :30:01. | |
laced through with Tory leadership ambition. We have all talked | :30:02. | :30:08. | |
incessantly, cassette has been part of this story, about people's | :30:09. | :30:13. | |
decisions, which campaigned to go for, did Boris Johnson jump because | :30:14. | :30:16. | |
of his ambition? What about Michael Gove? He has now become a better | :30:17. | :30:21. | |
known figure in the party because of his decision. It seems clear to me | :30:22. | :30:27. | |
that for people who are interested in the top job, we know who they | :30:28. | :30:31. | |
are, their focus now will not be nations with the EU, they will be | :30:32. | :30:35. | |
the Tory leadership battle, and battle will have already commenced. | :30:36. | :30:38. | |
There have been discussions among some of the people who fancy their | :30:39. | :30:41. | |
chances about the best way forward already. | :30:42. | :30:53. | |
On that point, if you have got candidates - Michael Gove, Boris | :30:54. | :31:00. | |
Johnson, possibly Theresa May, will this process actually start soon? I | :31:01. | :31:05. | |
mean, they have to have this vote among MPs and then take two | :31:06. | :31:10. | |
candidates out to the Conservative Party and the country, when would | :31:11. | :31:14. | |
you expect that all to happen? I think probably pretty soon. The | :31:15. | :31:19. | |
Parliamentary term is due to run for another four weeks. For many Tory | :31:20. | :31:23. | |
MPs, that period will be all about whose names get onto that final | :31:24. | :31:28. | |
ballot. Very briefly, unlike the Labour Party, essentially, Tory MPs | :31:29. | :31:31. | |
decide who, from quite a wide field, debts down to two places on the | :31:32. | :31:36. | |
ballot paper. So, Tory party members only have a choice between two | :31:37. | :31:41. | |
candidates. So there will be now frantic wheeling and dealing behind | :31:42. | :31:45. | |
closed doors among the Conservative Parliamentary party. And think of | :31:46. | :31:51. | |
this, too. The Tory party membership, which only numbers about | :31:52. | :31:55. | |
150,000 people, are going to choose our next Prime Minister. There is | :31:56. | :31:59. | |
also speculation of course this morning in Westminster about an | :32:00. | :32:03. | |
early election, because of what has happened, and how this result has | :32:04. | :32:07. | |
upended politics. That has got to be more likely, if you think that the | :32:08. | :32:10. | |
next Prime Minister will be chosen by a vote of 150,000 people. And | :32:11. | :32:15. | |
especially while Jeremy Corbyn is still in place in the Labour Party, | :32:16. | :32:19. | |
who most conservatives assume they would beat quite easily in an | :32:20. | :32:23. | |
election, that is their view, there would of course be a temptation for | :32:24. | :32:27. | |
whoever becomes the Tory leader, the next Prime Minister, to call for an | :32:28. | :32:31. | |
early election. So not only do we have the prospect of a new Prime | :32:32. | :32:35. | |
Minister, but and increasingly likely prospect of an early | :32:36. | :32:38. | |
election, too. Gordon Brown was criticised for not calling an | :32:39. | :32:42. | |
election after he became Prime Minister. People view the Prime | :32:43. | :32:46. | |
Minister now as the elected person at an election, not as somebody who | :32:47. | :32:51. | |
you change at will. So there would be pressure to have an early | :32:52. | :32:55. | |
election, no doubt. What about the Chancellor of the Exchequer? If we | :32:56. | :32:58. | |
are talking about a steady ship, does that mean George Osborne stays | :32:59. | :33:04. | |
in place for the time being? I think for the time being you would expect | :33:05. | :33:07. | |
that. But as David Cameron has basically said, he will be gone | :33:08. | :33:11. | |
within three months, I think the widespread assumption would be that | :33:12. | :33:14. | |
George Osborne would go at that point, too. George Osborne for a | :33:15. | :33:19. | |
long time has been seen as really joined at the hip, some people even | :33:20. | :33:28. | |
call it the Camborne project. In the early days of their leadership, | :33:29. | :33:31. | |
their joint leadership, almost, when they were young bucks who surprised | :33:32. | :33:35. | |
everybody by taking over the Conservative Party when they were | :33:36. | :33:38. | |
comparatively young. George Osborne was the youngest Chancellor for | :33:39. | :33:43. | |
decades. But most people would now assume that as David Cameron has | :33:44. | :33:46. | |
been defeated and snubbed, the public have overturned him, that | :33:47. | :33:50. | |
that will also apply to George Osborne, who has had a particularly | :33:51. | :33:54. | |
bruising six months or so. A budget which unravelled, a strategy in his | :33:55. | :34:00. | |
campaign which has been rubbished by many Conservative MPs, dozens of | :34:01. | :34:05. | |
them going on the record to say that his position would be untenable if | :34:06. | :34:10. | |
Brexit was to happen which was essentially a coup in waiting. I | :34:11. | :34:14. | |
think further run it means that in this Tory leadership contest, George | :34:15. | :34:19. | |
Osborne's chances are pretty slim. And frankly, he is a cunning | :34:20. | :34:22. | |
politician, he will not run unless he thinks he has got a chance of | :34:23. | :34:27. | |
winning. As feels this morning, it is pretty unlikely that his name | :34:28. | :34:31. | |
would be on the ballot paper. And that is surprising, given that for | :34:32. | :34:35. | |
so long in Westminster, he was seen by a lot of people loyal to the | :34:36. | :34:38. | |
government and the Tory party as the heir apparent. Thank you very much. | :34:39. | :34:45. | |
So, the news that David Cameron has said he will do everything to steady | :34:46. | :34:49. | |
the ship for the time being, but that he is not the captain to take | :34:50. | :34:53. | |
tenure to its next destination. He believes that by October, there | :34:54. | :34:57. | |
should be a new leader. He has in effect triggered a leadership race. | :34:58. | :35:02. | |
He's going to stand down. They need a new leader by October. He has told | :35:03. | :35:06. | |
the Queen, he said. Negotiations about a new Prime Minister will | :35:07. | :35:12. | |
start, and he does not believe that the negotiations with the EU, the | :35:13. | :35:17. | |
triggering of article 50, which says in effect, we want to leave and we | :35:18. | :35:21. | |
have two years to discuss it, he does not believe that should happen | :35:22. | :35:25. | |
right away. Contrary to what he said during the campaign, he believes it | :35:26. | :35:29. | |
should wait until the new Prime Minister gets in place. Then there | :35:30. | :35:34. | |
is the argument about whether the new Prime Minister will have the | :35:35. | :35:37. | |
authority to do it without having a general election. It is the | :35:38. | :35:43. | |
breathtaking speed with which these things happen. I am joined by Isabel | :35:44. | :35:47. | |
Hardman and Andrew Walmsley, who have been with us at intervals | :35:48. | :35:51. | |
during the night. To see the image of Downing Street deserted, the | :35:52. | :35:54. | |
running on College Green towards, who are we expect in, Boris...? If | :35:55. | :36:01. | |
we think, just over a year ago, David Cameron was standing outside | :36:02. | :36:05. | |
No 10 celebrating a general election victory which most people, including | :36:06. | :36:10. | |
himself, had not seen coming, and being the first Conservative leader | :36:11. | :36:13. | |
to win a Parliamentary majority since 1992. Slightly over a year | :36:14. | :36:17. | |
later, he is having to announce his resignation, and I think rightly so, | :36:18. | :36:23. | |
because in the end, he's picked this referendum. He dictated the timing. | :36:24. | :36:27. | |
He was the chief advocate for his side of the campaign, and it would | :36:28. | :36:31. | |
not be credible in the end, when he had told the country this decision | :36:32. | :36:34. | |
was more important than a general election. Well, if you lose a | :36:35. | :36:38. | |
general election, you have to walk out of No 10. If you lose a | :36:39. | :36:42. | |
referendum, you're going to have to do the same. His party were in not | :36:43. | :36:48. | |
going to trust him to do the Brexit negotiation. And how would he look | :36:49. | :36:54. | |
his European peer group in the eye, having had this happen? It was not | :36:55. | :36:58. | |
credible. So he has made inevitably the big decision. And at that point, | :36:59. | :37:04. | |
many in the Boris Johnson camp felt miffed that he had got in there and | :37:05. | :37:08. | |
got this first Conservative majority for 27 years - it is very hard, even | :37:09. | :37:14. | |
though this is immense, it is huge, it is a seismic, but when you look | :37:15. | :37:18. | |
at it through the prism of British men who have been long-time rivals, | :37:19. | :37:24. | |
it is intensely personal? The Boris-Cameron psychodrama has been | :37:25. | :37:27. | |
going on for years and it looks as though Boris has finally won that. | :37:28. | :37:31. | |
We do not know whether he will win the Tory leadership. He has raised | :37:32. | :37:35. | |
his standing in the Parliamentary party during the campaign. A lot of | :37:36. | :37:39. | |
Conservative MPs backed Brexit. He kept his cool during the TV debates | :37:40. | :37:43. | |
when he was being attacked, in a real onslaught during that TV | :37:44. | :37:50. | |
debate, not rising to the bait. He now has to build his standing | :37:51. | :37:54. | |
amongst Conservative MPs. He knows he is popular with the party but he | :37:55. | :38:00. | |
needs to get to that final two. I think we should hang onto the | :38:01. | :38:04. | |
thought that most Britain, at least witnessed by the last general | :38:05. | :38:08. | |
election, is not Conservative. Quite a big problem with the referendum | :38:09. | :38:13. | |
campaign itself, perhaps, that it was all a Tory psychodrama and | :38:14. | :38:17. | |
treated as such - you know, we are talking about Britain's future. It | :38:18. | :38:21. | |
should be a bit more important than some projection of a schoolboy | :38:22. | :38:24. | |
rivalry onto the national stage. Ruth Davidson has spoken in the last | :38:25. | :38:33. | |
few moments. She has told us already this evening that the Tory party | :38:34. | :38:36. | |
will stay together. And now she has said... But Isabel Hardman, your | :38:37. | :38:45. | |
sense is that she has already ruled herself out of being a future | :38:46. | :38:49. | |
leader, even with the complications that she would have to jump over to | :38:50. | :38:53. | |
get there in Parliamentary terms? I think with Davidson will be a | :38:54. | :38:56. | |
kingmaker in the Tory leadership contest. She is hugely popular in | :38:57. | :39:01. | |
the Conservative Party and in the media. People listen when she | :39:02. | :39:04. | |
intervenes. I do not get the sense that she wants to be the | :39:05. | :39:07. | |
Conservative Party leader. She has already named Stephen Crabb as her | :39:08. | :39:11. | |
candidate. Who came in to replace Iain Duncan Smith. But unfortunately | :39:12. | :39:18. | |
for him, he campaigned for Remain so, that will be a black mark | :39:19. | :39:22. | |
against him. So we are looking at a Brexit leader as Prime Minister, | :39:23. | :39:28. | |
without a shadow of a doubt? Yes. I would be amazed if it was anything | :39:29. | :39:36. | |
else. Theresa May did stay quiet during the campaign, but I don't | :39:37. | :39:39. | |
think she has got enough standing in the Parliamentary party anyway. I | :39:40. | :39:42. | |
think somebody very popular could have stayed quiet and potentially | :39:43. | :39:46. | |
had a chance, but not Theresa May. I asked you over night how many party | :39:47. | :39:50. | |
leaders you thought would go by the end of the week. There are now | :39:51. | :39:54. | |
rumours among backbench Labour MPs that they might mount a challenge | :39:55. | :39:59. | |
against Jeremy Corbyn. By the end of the week?! That could happen by the | :40:00. | :40:04. | |
end of today? There is no doubt, there are a lot of Labour MPs who | :40:05. | :40:09. | |
are incandescent have look at what happened to them Labour heartlands, | :40:10. | :40:14. | |
and yes, quite a lot of them are blaming Jeremy Corbyn. I would | :40:15. | :40:16. | |
imagine Jeremy Corbyn supporters will reply, this is David Cameron's | :40:17. | :40:22. | |
fault, let's not lose sight of that. Jeremy Corbyn did not call this. The | :40:23. | :40:28. | |
Catch-22 is still there - if Jeremy Corbyn were to be really did buy the | :40:29. | :40:34. | |
Labour members, or that looked likely, would it be wise to make an | :40:35. | :40:37. | |
attempt against him? And we have to ask ourselves, can British politics | :40:38. | :40:41. | |
cope with two leadership crises simultaneously? There is real anger | :40:42. | :40:48. | |
in the Labour Party. I think if there is enough chaos in the Labour | :40:49. | :40:51. | |
Party, even those who do not necessarily want to get rid of | :40:52. | :40:55. | |
Corbyn, may think they have to get rid of him in order to stop the | :40:56. | :40:59. | |
chaos. We will be back. I know we are expecting Boris Johnson, so | :41:00. | :41:03. | |
David, perhaps you should pick up from here? Thank you very much, | :41:04. | :41:08. | |
Emily. I don't know whether we are expect in Boris Johnson. We are | :41:09. | :41:12. | |
hoping to have a word with Peter Mandelson. And we have been joined | :41:13. | :41:16. | |
by Lord Tebbit, one of the elder statesman of the Conservative Party. | :41:17. | :41:20. | |
What do you make of all of this? It is a bit of dogs dinner, isn't it? I | :41:21. | :41:25. | |
think the decision is the right incision which the people of the | :41:26. | :41:29. | |
country have taken, to leave the European Union. But it has led to an | :41:30. | :41:36. | |
awful lot of confusion, hasn't it? And the markets seem to have fallen | :41:37. | :41:41. | |
through the floor, and the pound. Kamal Ahmed is saying, it will not | :41:42. | :41:46. | |
hit up for a long time. Well, we will see. Project Fear has become | :41:47. | :41:54. | |
project reality. Excuse me, my dear. If these boys knew which way the | :41:55. | :41:57. | |
market was going, they would be much richer than they are. I'm going to | :41:58. | :42:02. | |
bring in Peter Mandelson. Rather frowning at us, but I think it is | :42:03. | :42:07. | |
only because it is not quite clear... Good morning, what do you | :42:08. | :42:12. | |
make of what has happened? You were vehemently in favour of Britain | :42:13. | :42:15. | |
staying in the EU. What is your reaction to the news of the Prime | :42:16. | :42:19. | |
Minister going and everything else that has happened? I think Mr | :42:20. | :42:21. | |
Cameron's announcement is entirely inevitable. He did it with his usual | :42:22. | :42:28. | |
grace and elegance and composure. He looks and sounds like the Prime | :42:29. | :42:33. | |
Minister, but I'm afraid that is no longer enough. What has happened, in | :42:34. | :42:38. | |
losing the referendum, he has seen his entire political project in the | :42:39. | :42:42. | |
Conservative Party defeated. He wanted to turn it into a less nasty, | :42:43. | :42:48. | |
more socially tolerant, Liberal Party. And he made great headway in | :42:49. | :42:58. | |
that. But I'm afraid but those who chose as their instrument of revenge | :42:59. | :43:01. | |
against him this referendum have won the day. The right wing now have the | :43:02. | :43:07. | |
other hand, and that is the direction in which the Conservative | :43:08. | :43:10. | |
Party is now going to go. Lord Tebbit, do you agree with that | :43:11. | :43:14. | |
description, perhaps do you approve of what he is saying? If you look at | :43:15. | :43:19. | |
which way many Labour heartlands have voted, you would not say it was | :43:20. | :43:22. | |
the extreme right wing which was running things. That's absolutely | :43:23. | :43:28. | |
right. The grassroots of the Labour Party have overwhelmingly taken the | :43:29. | :43:35. | |
view which Kate has taken. First of all, I did think the Prime | :43:36. | :43:38. | |
Minister's speech was very magnanimous, would be expert, I | :43:39. | :43:41. | |
think he has done the right thing. There is no need to rush to | :43:42. | :43:48. | |
introduce article 50. It is time until we start those negotiations to | :43:49. | :43:52. | |
be able to talk to people like Canada, Australia, India, those | :43:53. | :43:55. | |
countries in the Commonwealth that we can actually start talking to | :43:56. | :43:58. | |
know about how we're going to get deals with them. The final thing I | :43:59. | :44:02. | |
would say, I do feel, what we're losing in all of this is that the | :44:03. | :44:07. | |
British people today voted, many, many, many of them, for hope, and | :44:08. | :44:12. | |
they are feeling positive. And I think it is really important that we | :44:13. | :44:15. | |
say to all of those people - I believe you have done the right | :44:16. | :44:19. | |
right thing, and we will see it working out for the best for the | :44:20. | :44:24. | |
country, in the end. Do you think the Labour Party did its utmost, and | :44:25. | :44:29. | |
its leader, to get this referendum to go in favour of Remain? Or do you | :44:30. | :44:35. | |
think the campaign was flawed and that Labour did not pull its wait? I | :44:36. | :44:40. | |
think eventually, halfway through this campaign, people like Tom | :44:41. | :44:45. | |
Watson, the debited leader, Ian McNicol, the general secretary, | :44:46. | :44:49. | |
really tried to mobilise the party and its resources and to throw them | :44:50. | :44:54. | |
behind Alan Johnson's campaign. The problem was that whilst they were | :44:55. | :45:00. | |
able to do quite a lot on the ground, they did not have a voice | :45:01. | :45:04. | |
from Jeremy Corbyn which was making any impact in the broadcast media. | :45:05. | :45:13. | |
The problem with Jeremy was not that he had a handbrake on, being | :45:14. | :45:20. | |
doubtful, the real question is whether he has the capability, the | :45:21. | :45:27. | |
competence to project the Labour Party to put together an effective | :45:28. | :45:30. | |
message and to get it heard by Labour voters right across the | :45:31. | :45:36. | |
country. It is obvious that on this occasion he was unable to do that, | :45:37. | :45:43. | |
and he should reflect on why that was and whether he really has what | :45:44. | :45:48. | |
it takes to be the sort of leader in the modern age of politics that we | :45:49. | :45:54. | |
need coming from the top of our party. Might we see a challenge to | :45:55. | :45:59. | |
the leadership of the Labour Party alongside a challenge for the | :46:00. | :46:01. | |
leadership of the Conservative Party? That is a matter for the | :46:02. | :46:08. | |
Parliamentary Labour Party, Labour MPs. I think they like Jeremy have | :46:09. | :46:15. | |
got to reflect on what the implications are of the Labour Party | :46:16. | :46:21. | |
so clearly losing touch with and a connection with its electoral base | :46:22. | :46:26. | |
across the country. I have got to interrupt, Mark Carney is just about | :46:27. | :46:33. | |
to make a statement. Inevitably, they will be a period of | :46:34. | :46:37. | |
uncertainty and adjustment following this result. At the Prime Minister | :46:38. | :46:43. | |
said this morning, there will be no initial change in the way our people | :46:44. | :46:47. | |
can travel, our goods can move or our services can be sold. It will | :46:48. | :46:53. | |
take some time for the UK to establish new relationships with | :46:54. | :46:58. | |
Europe and the rest of the world. Some market and economic follow to | :46:59. | :47:01. | |
he can be expected of this process unfolds. But we are well prepared | :47:02. | :47:07. | |
for this. Her Majesty's Treasury and the Bank of England having gauged | :47:08. | :47:11. | |
and extensive contingency planning and the Chancellor and I have | :47:12. | :47:14. | |
remained in close contact, including through the night and this morning. | :47:15. | :47:21. | |
The bank of England will not hesitate to take additional measures | :47:22. | :47:27. | |
as required as markets adjust and as the UK economy moves forward. Those | :47:28. | :47:32. | |
economic adjustment will be supported by a resilient UK | :47:33. | :47:37. | |
financial system, one that the Bank of England has consistently | :47:38. | :47:40. | |
strengthened over the course of the last seven years. The capital were | :47:41. | :47:44. | |
quiet months of our largest banks are now ten times higher than before | :47:45. | :47:49. | |
the financial crisis. The Bank of England has stress tested those | :47:50. | :47:53. | |
banks against scenario is far more severe than our country faces. As a | :47:54. | :47:58. | |
result of these actions, UK banks have raised over ?130 billion of new | :47:59. | :48:04. | |
capital and now have more than ?600 billion of high quality liquid | :48:05. | :48:13. | |
assets. Why does this matter? That capital and huge liquidity gives | :48:14. | :48:16. | |
banks the flexible today need to continue to lend to UK businesses | :48:17. | :48:19. | |
and households, even during challenging times. As a backstop, | :48:20. | :48:26. | |
and to support the functioning of the markets, the Bank of England | :48:27. | :48:30. | |
stands ready to provide more than ?250 billion of additional funds | :48:31. | :48:32. | |
through its normal market operations. The Bank of England is | :48:33. | :48:39. | |
also able to provide substantial liquidity in foreign currency if | :48:40. | :48:44. | |
required. We expect institutions to draw on this funding if and when | :48:45. | :48:49. | |
appropriate, just as we expect them to draw on their own resources as | :48:50. | :48:52. | |
needed, to provide credit to support markets, and to supply other | :48:53. | :48:57. | |
financial services to the real economy. In the coming weeks the | :48:58. | :49:03. | |
bank will assess economic conditions and we will consider any additional | :49:04. | :49:11. | |
policy responses. A few months ago the bank judged that the risks | :49:12. | :49:15. | |
around the referendum would you most significant near-term domestic risk | :49:16. | :49:19. | |
to financial stability. To mitigate them, the bank has put in place | :49:20. | :49:25. | |
extensive contingency plans, which begin with ensuring that the core of | :49:26. | :49:29. | |
our financial system is well capitalised, liquid and strong. This | :49:30. | :49:34. | |
resilience is backed up by the Bank of England's facilities in Stirling | :49:35. | :49:39. | |
and foreign currencies, and all of these resources will support market | :49:40. | :49:44. | |
functioning in the face of any short-term volatility. The bank will | :49:45. | :49:50. | |
continue to consult and cooperate with all relevant domestic and | :49:51. | :49:53. | |
international authorities to ensure that the UK financial system can | :49:54. | :49:58. | |
absorb any stresses and can do its job of concentrating on serving the | :49:59. | :50:06. | |
real economy. That economy will adjust to new trading relationships | :50:07. | :50:11. | |
that will be put in place over time. It is these public and private | :50:12. | :50:15. | |
decisions which will determine the UK's long-term economic prospects. | :50:16. | :50:21. | |
The best contribution of the Bank of England can make is to continue to | :50:22. | :50:27. | |
push you relentlessly our responsibilities dormitory and an | :50:28. | :50:32. | |
adjustability. These are unchanged. We have taken all of the necessary | :50:33. | :50:36. | |
steps to prepare for today's events, and in the future we will not | :50:37. | :50:40. | |
hesitate to take any additional measures required to meet our | :50:41. | :50:45. | |
responsibility as the UK moves forward. | :50:46. | :50:53. | |
Mark Carney, the governor of the Bank of England, saying they have | :50:54. | :50:57. | |
?250 billion they are prepared to spend to support sterling and they | :50:58. | :51:01. | |
will do what is needed. If that bluff, or can he do that? You feel | :51:02. | :51:06. | |
he is speaking directly to the markets. We have seen banking stocks | :51:07. | :51:13. | |
from this morning down by between 20 and 30%. RBS, Barclays, Lloyds, all | :51:14. | :51:20. | |
having a torrid time on the markets this morning. This is a man who is | :51:21. | :51:26. | |
trying to prevent a political crisis turning into a banking crisis. He | :51:27. | :51:32. | |
said he will stand behind the British banks, he will enable them | :51:33. | :51:35. | |
to provide credit, not just to businesses but to households as | :51:36. | :51:39. | |
well, a vital part of the plumbing of the UK economy. It is remarkable, | :51:40. | :51:45. | |
when you have the resignation of the Prime Minister, and a statement from | :51:46. | :51:49. | |
the Governor of your central bank to reassure the markets. The fact that | :51:50. | :51:55. | |
happening shows how nervous people like Mark Carney are about what | :51:56. | :52:00. | |
could happen. Mark Carney was the man who was the first to use the | :52:01. | :52:04. | |
word recession when it came to the idea of Brexit, that Britain could | :52:05. | :52:08. | |
fall into a technical recession. Whoever the new Prime Minister is by | :52:09. | :52:14. | |
the end of the year, his Thracian ship with the Governor of the Bank | :52:15. | :52:18. | |
of England will be key. If that Prime Minister is somebody who felt | :52:19. | :52:22. | |
that the Governor of the Bank of England was not somebody who seemed | :52:23. | :52:25. | |
to support his position, the Governor of the Bank of England is | :52:26. | :52:31. | |
in a position where he will have to rebuild relations with the governing | :52:32. | :52:38. | |
party. Will it work? His big point is... His big point is the banks are | :52:39. | :52:45. | |
not in the same position as they were in 2007, when they had no | :52:46. | :52:49. | |
capital buffers against big changes in the market. He says they are now | :52:50. | :52:56. | |
capitalised to a far greater extent, there is more financial support in | :52:57. | :53:00. | |
the market, so it is not like we are back in 2007, would you have seen | :53:01. | :53:04. | |
from the markets this morning that banks are still in a fragile state, | :53:05. | :53:08. | |
they have not recovered from the financial crisis in totality, and he | :53:09. | :53:13. | |
is speaking directly to investors and saying that the bank will do | :53:14. | :53:20. | |
whatever is necessary, which means providing liquidity to ensure that | :53:21. | :53:26. | |
this political crisis does not turn into a banking crisis. Yesterday we | :53:27. | :53:31. | |
were told it was scaremongering, but here we are, can you believe it, | :53:32. | :53:36. | |
talking about an economy that is now in this terrible shock, and people | :53:37. | :53:42. | |
like me were told we were scaremongering, don't want to listen | :53:43. | :53:46. | |
to the experts, but that has now been... I wish it were different, | :53:47. | :53:50. | |
but it has been proved to be accurate. We have made a very, very, | :53:51. | :53:56. | |
very bad mistake. You are alarmed by the reaction? Not particularly. We | :53:57. | :54:04. | |
visit there would be this sort of reaction. The Chancellor has been | :54:05. | :54:11. | |
engaged in this hype about the disasters that would come to us ever | :54:12. | :54:15. | |
since the dodgy dossier which was issued by the Government or by the | :54:16. | :54:23. | |
faction of the Remain camp in the Government. They have been building | :54:24. | :54:27. | |
it up. Now they have got to try to calm it down. This is a cross they | :54:28. | :54:32. | |
have made for themselves. There is no reason to believe that over the | :54:33. | :54:36. | |
next month that anything great will change. What will change? Of the | :54:37. | :54:46. | |
French going to refuse... This is something we always knew... You are | :54:47. | :54:53. | |
not listening to business. Hold on. The French going to refuse to | :54:54. | :54:58. | |
purchase the landing gear and the engines for the Airbus? Will they | :54:59. | :55:03. | |
say, we don't do business with Britain anymore? Of course not. | :55:04. | :55:12. | |
Business said vote in. Let's not take it any further for the moment. | :55:13. | :55:16. | |
That will run and run. Jeremy, let's have a look, because we are coming | :55:17. | :55:23. | |
up towards 9am, but we will hand over to others. Let's have a look | :55:24. | :55:30. | |
with your illustrations of the outcome of this referendum and how | :55:31. | :55:32. | |
it came about. We started 11th hours ago hey, the | :55:33. | :55:41. | |
drama has come right to the man behind the door of number ten. Let's | :55:42. | :55:47. | |
remind ourselves of the sequence. The first result at mid-night, it | :55:48. | :55:52. | |
was a warning sign for the remain group, Newcastle. It went Remain, | :55:53. | :56:00. | |
only just. It was expected to be much stronger for Remain. That was a | :56:01. | :56:08. | |
flight at the start. Then Swansea came in, for Leave, it had been | :56:09. | :56:13. | |
predicted for Remain. London began to report much better results for | :56:14. | :56:18. | |
Remain. In Lambeth it was between 70 and 80% of the vote. But it was not | :56:19. | :56:24. | |
enough. Even some of the London results, the Remain vote was a bit | :56:25. | :56:30. | |
suppressed. Then we heard from the cities outside London, Sheffield | :56:31. | :56:35. | |
went Leave, even though we thought it might go Remain. Then, Durham, | :56:36. | :56:42. | |
50-50, we had it down as, it went decisively the Leave. Then the gun | :56:43. | :56:47. | |
was much more balanced. Any chance Leave had of snatching it from | :56:48. | :56:56. | |
Birmingham was gone. Then, this happened. Northumberland took the | :56:57. | :57:01. | |
numbers over the line for Leave. There was no way back for Remain. | :57:02. | :57:07. | |
The last result came in, Cornwall, that reported for Leave. A strong, | :57:08. | :57:16. | |
decisive, clear victory for Leave, but many questions arising. We have | :57:17. | :57:21. | |
seen the drama in Downing Street. What a night. What a day to come. | :57:22. | :57:25. | |
Just before 10pm last night when we started I said that it was a | :57:26. | :57:33. | |
momentous day for Britain, because it was no less than defining what | :57:34. | :57:37. | |
kind of country we wanted to live in. The answer to that question, | :57:38. | :57:41. | |
which is one that has haunted politics for a long time, whether we | :57:42. | :57:46. | |
should be in or out of the EU, has been resoundingly answered, a | :57:47. | :57:50. | |
majority decided yesterday they wanted us to leave the EU. What they | :57:51. | :57:57. | |
did not expect was that as an immediate consequence, David Cameron | :57:58. | :57:59. | |
would announce he was standing down as Prime Minister, and there would | :58:00. | :58:04. | |
be by October a new leader of the Conservative Party, whether it leads | :58:05. | :58:12. | |
to a general election, a new Prime Minister showing he has legitimacy, | :58:13. | :58:18. | |
is for the future. We heard David Cameron, his voice breaking at the | :58:19. | :58:23. | |
end, say he was laying down the responsibility, he was there to | :58:24. | :58:26. | |
steady the ship, but he was not the captain to take us out of the EU. It | :58:27. | :58:31. | |
has been an extraordinary night, but that is all from us here. From all | :58:32. | :58:36. | |
of us in the studio and everybody who has done the number crunching | :58:37. | :58:40. | |
and the rest of it, Emily, Jeremy, me, and from John and Dick and Harry | :58:41. | :58:51. | |
and old uncle Tom Cobleigh... It has been a big and busy night. I thank | :58:52. | :58:57. | |
them all very much. Our coverage continues, because this story will | :58:58. | :59:01. | |
develop through the day. It continues here on BBC One with | :59:02. | :59:03. | |
Sophie Raworth and Andrew Neil. If we are to form the United States | :59:04. | :59:16. | |
of Europe, we must begin now. Despite his friendship with Charles | :59:17. | :59:20. | |
de Gaulle, it came to nothing. Britain has much to contribute to | :59:21. | :59:34. | |
this process, and as members of the community, we shall be better able | :59:35. | :59:35. | |
to do so. Yes is now 67%, the no vote is 33%. | :59:36. | :59:51. | |
The president of the commission said the other day that he wanted the | :59:52. | :59:56. | |
European Parliament to be the democratic body of the community. He | :59:57. | :00:00. | |
wanted the commission to be the executive and he wanted the Council | :00:01. | :00:04. | |
of ministers to be the Senate. No, no, no. I find Winston Churchill's | :00:05. | :00:11. | |
perception a good deal more convincing and more encouraging than | :00:12. | :00:16. | |
the nightmare image sometimes conjured up by my right honourable | :00:17. | :00:24. | |
friend. Britain's best interests served by suspending our mentorship | :00:25. | :00:27. | |
of the exchange rate mechanism. Like me all over me, don't bind my hands | :00:28. | :00:33. | |
when I am negotiating on the half of the British nation. | :00:34. | :00:47. | |
Three years ago I committed to the British people that I would | :00:48. | :00:53. | |
renegotiate our position in the European Union and hold an in/ out | :00:54. | :00:55. | |
referendum. At 4:40am we can say the decision | :00:56. | :01:13. | |
taken in 1975 by this country to join the Common market has been | :01:14. | :01:18. | |
reversed by this referendum to leave the EU. You did it! You have changed | :01:19. | :01:31. | |
the face of Europe! I hope so. I thought this campaign in the only | :01:32. | :01:36. | |
way I know how, which is to say directly and passionately what I | :01:37. | :01:39. | |
think and feel, head, heart and | :01:40. | :01:40. |