"Around half of the fiscal hole, and the political instability that comes with that, is down to Brexit," John Springford of the Centre for European Reform.

This Brexit built on lies can't be undone, but the new prime minister has a chance to minimise the damage.

The UK chief executive of the German manufacturing group Siemens has said Brexit is making Britain an international “laughing stock”, while urging MPs to pursue a softer withdrawal from the EU.