The sorry saga of the referendum has taken its first toll. The Prime Minister has announced his intention to step down as from October as the defeat is a drain on his authority. This is a devastating blow to the country. One wonders how many more casualties will follow in the wake of the defeat of the pro EU proponents. However, the vote has been cast and there is no going back.
The repercussions and adverse effect of coming out of the EU, in my view, would be that house prices will go up as many of the expatriates living in EU countries like Spain may want to return and buy properties here; financial institutions will want to move their businesses and headquarters elsewhere, which in turn, could pose a threat to our people who are employed in the financial industry; the free travel passes on the trains and buses for the elderly may be withdrawn; we will need visas to travel within Europe and the reciprocal free medical treatment which we receive under the EUHC will no longer be available.
A period of uncertainty will now follow until a new captain to steady the ship is selected. In the mean time all we can do is to hope for the best.
Dinesh Sheth
Newbury Park, Ilford
