Jeffrey: Why the greatest opportunities for the UK lie outside Europe

It is probably not an overstatement to suggest the UK is facing the biggest challenge for 70 years.

How cleverly our politicians and civil servants negotiate their way through the exit process of the UK's decision to leave the EU, and how successfully they establish new arrangements and agreements both with the EU and other countries, will all have a huge impact on how the economy performs in the longer term and on how other countries react to Brexit. However, there is an even more important response that will define whether, eventually, the UK's exit from the EU will be regarded as essentially damaging or effectively beneficial: the response we see from the UK's businesses. Mervyn ...