AdiEU: Britain votes to leave European Union causing pound to hit lowest level since 1985

Brexit camp clinches victory

Britain has spoken and how – The UK chose to leave the EU with the Brexit camp winning by 52 per cent to 48 per cent.

While England and Wales turned out to be pro-Brexit, London, Scotland and Northern Ireland backed Remain.

After the vote, the pound fell to its lowest level since 1985.

In a snap poll conducted by London Loves Business on Twitter, 51 per cent backed Brexit while 43 per cent backed Remain.

Remain? Brexit? Abstain? Or Don’t know? #EUref #referendum#BrexitOrNot#EUreferendum

— LondonLovesBusiness (@LondonLovesBiz) June 23, 2016

The FTSE 100 plummeted 8.3 per cent with £137bn wiped off UK blue chip stocks within minutes of markets opening this morning.

Carolyn Fairbairn, CBI Director-General, said:

“The British people’s vote to leave the EU is a momentous turning point in our history. The country has spoken and it’s for us all to listen.

“Many businesses will be concerned and need time to assess the implications. But they are used to dealing with challenge and change and we should be confident they will adapt.

“The urgent priority now is to reassure the markets. We need strong and calm leadership from the Government, working with the Bank of England, to shore up confidence and stability in the economy.

“The choices we make over the coming months will affect generations to come. This is not a time for rushed decisions.

“The CBI will be consulting its members and business is committed to working with Government to shape the best possible conditions for future prosperity.”