Investec boss warns stopping Brexit would ‘corrupt democracy’

Preventing Brexit would “corrupt democracy”, according to the chief executive of specialist bank Investec.

City A.M. reported that Investec joint chief executive Hendrik Du Toit insisted that Britain must leave the European Union (EU) regardless of what professionals in the financial sector think about the decision.

The concerns from Du Toit echoed those of Prime Minister Theresa May, who raised on Monday that “social cohesion” would be damaged if the UK were to hold a second Brexit referendum.

When speaking at the World Economic Forum held in Davos yesterday, Du Toit highlighted: “If your people vote for something and you don’t give it to them, that will corrupt democracy.”

However, he further emphasised that it must be delivered in a “responsible, sustainable way”.

“A nation’s decision to vote on its own sovereignty is its right. If it makes that decision, it’s up to its leaders to implement it. Whatever we feel about it. That’s part of the democratic process.”

Theresa May will be missing the annual get-together of world leaders and business figures on order to concentrate on putting together a Brexit deal that MPs will vote in favour of.

According to Du Toit, Brexit negotiations are stagnating as both the UK and the EU are lacking flexibility with their respective conditions, stating that: “If you treat it like a negotiation to the death, you’re not going to get what you need.”

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