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Britain could still reverse Brexit, former minister says

Wednesday, September 06, 2017 - 01:41

Brexit could be reversed if economic pain prompts a change in public opinion that brings a new generation of political leaders to power in Britain, according to a former Conservative minister. As Ciara Lee reports, Michael Heseltine's also thinks Britain will face a new election within two years and Theresa May won't win it.

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He's used to tough challenges. The former UK trade minister helped topple Margaret Thatcher in 1990 and earned himself the nickname Tarzan along the way. Now Michael Heseltine is trying to escape a new jungle. (SOUNDBITE) (English) FORMER CONSERVATIVE POLITICIAN, MICHAEL HESELTINE, SAYING: "I think that in a relatively short period of time, the Brexit negotiations will sour even more than they already have and the Tories will be left holding the baby. While everyone else will have moved away from Brexit." The former trade minister knows a thing or two about dealing with foreign powers. But some think this time he's wishful thinking. (SOUNDBITE) (English) GLOBAL FINANCIAL ECONOMIST, COMMERZBANK, PETER DIXON, SAYING: "The problem is that the U.K. government has made its bed and now it has to lie in it - it has told us that it wants to leave the EU. It won an election narrowly on the back of this policy so it will be very difficult for it to do an about turn." The economic case for not leaving the EU does appear to be strengthening. Growth began to slow sharply this year and some businesses are getting nervous. (SOUNDBITE) (English) FORMER CONSERVATIVE POLITICIAN, MICHAEL HESELTINE, SAYING: "If the deal is anything like what I think it will be, there will be a penalty for being outside the market and that will affect investment decisions. I regard it as a monumental mistake." Many think the solution will be a long and protracted exit. And that may not satisfy everyone, including the Prime Minister. Heseltine thinks Theresa May will be out within two years.

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Britain could still reverse Brexit, former minister says

Wednesday, September 06, 2017 - 01:41