Hard, soft or left? One year on and theories abound, but politicians are yet to define their vision for the shape of Britain’s post-EU future

Few predicted it at the time, but the real effect of the EU referendum a year ago has been political rather than economic. One prime minister has resigned and another has been so badly mauled that she may not survive much longer. Britain is closer to having a Labour government with a radical leftwing agenda than it has been for decades.

All this has been going on while the economy has been growing at a respectable, if unspectacular, rate, averaging growth of 0.5% a quarter since the Brexit vote. The recession so confidently predicted by the Treasury ahead of the vote has not happened.

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