“I remember three weeks before the referendum in 2016, I came out of Staines station and someone came up to me and said 'I’m voting for Brexit'", Kwarteng recalled. "And I said, ‘Oh, why are you doing that?’ And he said, ‘Well I haven’t had a wage increase in 15 years’. And that was in his mind what this was all about".
"You’re quite right to say people are resisting that, particularly employers that were benefiting from an influx of labour that could keep wages low”, Kwarteng agreed.
“The head of Goldman Sachs said to me three years ago, ‘No one’s going to invest in the UK because of Brexit’", Kwarteng said. “And then about three months ago I said to him, 'Look at all the investment'. He said, ‘Ah, that’s because your assets are cheap’. They can hop on the left foot and then hop on the right".