As the dust settles from the referendum result, a coherent plan is urgently needed. But first, we need to understand what the vote to leave the EU was really about. Everyone seems to have forgotten the real culprit: the bloated bureaucracy in Brussels. This problem goes right to the heart of the EU. The UK may complain more than most about red tape, but we’re by no means the only European country to struggle because of it.

As a political and economic force, today’s EU is impotent and dysfunctional. Its financial heart, London, has been removed. We need fundamental change, not another round of feeble efforts to revive a frozen corpse. We need decisive action to remind the markets that our economy is strong, powerful and secure. We need a dynamic leader who will unite the country around a new vision for Britain.

I egret that Boris Johnson decided against running for the Conservative Party Leadership and call for everyone to prevent Michael Gove and his cronies from winning the election. 

But it will take more than just adept politicians to renegotiate our relationship with Europe. The new prime minister will need advice from industry leaders. An advisory business council, bringing together businesspeople with experience of working in Europe, is essential to a successful outcome.

Finally, we must not forget the US dimension. Obama will be gone by November, and it is vital that our new prime minister persuades his successor to join Britain in championing EU reform.