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John Major effectively calls Labour and the Conservatives cowards over Brexit - must watch "In an act of collective folly, the United Kingdom voted to leave the European Union" "Across the world our enemies celebrated and our friends despaired" "We left the EU on a minority vote of 37% of the electorate" "After a referendum campaign that was PACKED with misinformation and misjudgement" "It left our country poorer, weaker, and divorced from the richest free trade market that history has ever seen" "National interest brushed aside by false hopes and promises, that even a cabinet dominated by front line Brexit enthusiasts was unable to deliver" "The promises they made, given the opportunity, they were unable to meet" "The gains from Brexit that were promised so confidently, can not be seen to be illusionary" "While the forecast damage of leaving the European Union has become only too apparent" "The nation saw project fear become project reality" "It's no consolation that the majority of the public now overwhelmingly recognises that it was misled" "In their moment of triumph, Brexiters predicted other countries would follow their lead and leave the European Union" "None have" "All saw only too clearly that Brexit was packed with disadvantages" "Far from others leaving the European Union, 9 further nations wish to join the EU" "Which is an apt comment on how the world saw Britain's decision to leave" "The United Kingdom once revelled as a leading member of the European Union with half a billion citizens, and the undoubted first ally of the United States, the world's most eminent superpower" "Today we know we are neither and so does the world" "As we plan for the future we must see ourselves as we now are" "And what we are is 70 million people in a world of 9,000 million" "The UK has a proud history, a wealth of talent, a role in the world that continues to be significant" "So we have much to offer any partner" "Our national assets could make the European Union stronger and better equipped to face the uncertain future that now lingers in front of us" "Our collective future demands a Europe that conducts itself as an economic superpower alongside America and China" "The alternative is to be ever subordinate to the economic whim of America and China - I have no appetite for that" "I know the shortcomings of the European Union, I lived with them for many painful years" "But in a dangerous, uncertain world, with two unpredictable superpowers" "I believe the UK's future is safer and more economically secure, inside a powerful block of neighbour nations, than outside" "There are many barriers to a return to full membership of Europe that will be difficult to overcome" "That said, there are areas we can make a start" "And looking forward the plain truth is, the European Union is too important for the United Kingdom to not be part of its decision making process" "The polls tells us that well over a half of the British electorate now believe it was a mistake to leave the EU" "And less than 1/3 support having done so" "Amongst the young, support for Brexit falls as low as 13%" "That is why it is so disappointing that both government and opposition are so wretchedly timid in their policy ambitions" "Both Labour and Tories are terrified of a residual Brexit vote" "They don't seek to change the minds of those who favour Brexit, by talking about the advantages we have lost and might be able to regain" "They simply hide in a hole and do nothing" "Our economic and political interests, that's not abstract, that's your living standards" "Our economic and political interests could not be clearer, but short term party political calculations is given priority over the national interest" "Brexit is a flop" "It is losing our country £100 billion, not million, £100 billion every year, as well as the tax revenue that would deliver" "Just think about that, every year, every year, the loss of European trade is damaging our finances" "The loss is made greater by some decisions the present Labour government have taken, and that is one reason why we are facing a painful and difficult budget" "Economists agree there will be a cumulative loss to the economy of £311 billion by 2035" "Together with 3 million fewer jobs, and a fall in trade levels with the EU" "As of now its a matter of fact, not conjecture" "Many SMEs have simply been defeated by post Brexit bureaucracy and simply find it no longer profitable to trade with Europe" "It is baffling, baffling, that at a basic minimum labour are not now looking at how to negotiate away such frustrations created by bureaucracy" "New trade deals supposed to cover lost European trade have not done so" "Some are positively damaging, ask the farmers if you disbelieve me" "The much promised mega trade deal swapping American trade with lost European trade promised so frequently and so confidently has never happened, and it shows no sigh of doing so in the future" "We have lost, probably forever, the unique and advantageous deals we had gained in the 1980s and 1990s and I do not believe they cannot be regained" "Without them a full return to the EU is unlikely until a younger generation, pro European politicians come to power, and the Brexiter voice again retreats to the fringes of debate"