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He said Remainers are now "emboldened as never before" with the possibility of rejoining being discussed again.

"It's about time we get this out in the open because Brexit is a disaster."

“I think having unfettered trade with our neighbours and countries all over the world is very beneficial to growth."

The former business minister seems to have forgot that he was once in favour of a second referendum on the EU question - as this clip proves.

"Brexit will result in the UK’s trade intensity being 15 per cent lower in the long run than if the UK had remained in the EU."

There is speculation that the project could be doomed as people wake up to the realities of life outside Europe.

"Public opinion has already moved", the former deputy prime minister said.

Simon Spurrell said the government is "so anti-Europe they won’t even discuss getting a better deal sorted out".

In 2016, the year of the Brexit referendum, British stocks were collectively worth 1.5 trillion US dollars more than those listed in Paris.