Osborne Warns of Hard Brexit's 'Severe' Consequences

The transcript discusses the implications of Brexit, focusing on the UK's future relationship with the EU, the possibility of another referendum, and the economic impact of soft versus hard Brexit. It also covers the timing of triggering Article 50 and the importance of maintaining London's status as a global financial center.

What was the primary question that the British people answered in the Brexit referendum?

• The future economic relationship with the EU

• Whether to leave the European Union

• The rights of European citizens in the UK

• The status of London as a financial center

Why is a second referendum on Brexit considered unlikely?

• The European Union has rejected the idea

• There is no legal framework for a second referendum

• The initial referendum had a high voter turnout and clear result

• The British government has already decided the outcome

What is the main difference between a 'hard' and 'soft' Brexit?

• A hard Brexit maintains all current EU trade agreements

• A soft Brexit involves no changes to immigration policies

• A hard Brexit involves leaving the EU without any agreements

• A soft Brexit means remaining in the EU

What is a significant factor affecting the timing of triggering Article 50?

• The economic stability of the UK

• The approval of the European Parliament

• The completion of French and German elections

• The UK's internal political situation

Why is it important for London to maintain its financial passporting rights?

• To ensure the UK's membership in the EU

• To maintain the UK's agricultural exports to the EU

• To allow free movement of people between the UK and EU

• To keep London as a leading global financial center