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Brexit showed old City elite trying to wrest control from the new

COMMENT: The biggest post-Brexit political risks to the City may yet come not from Europe, but from the UK itself

Three weeks after the Brexit vote, a consensus is emerging that the UK’s decision to quit the European Union was primarily a revolt against globalisation by “left behind” voters registering their anger at excessive immigration, which they blamed for driving down wages and putting pressure on public services.

There is plenty of evidence to buttress this thesis. Support for Brexit was strongest in areas that tend to be the most economically disadvantaged and where average levels of education are low, according to Professor Matthew Goodwin of Kent University.

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