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You think the likes of Farage and Johnson (who used the campaign as a springboard) would just shrug their shoulders? Would the Mail and Express back down?
Absolutely not, the rhetoric (which in June 2016 was very much aimed at immigration) would have increased. There would be outrage that 50% more people voted to leave than stay but the Political Elite are thwarting the Will Of The People.
Double their efforts to leave the EU, obviously.
You think Farage would return under his rock? Johnson would let Cameron get on with being PM? The ERG Tories would give it up? The Mail and Express would change their tune?
60% of the country supporting them, and it would just be switched off like that. Sure.