He said: “I have to say I am beginning to hear talk in some quarters that Brexit may not actually happen.
“I spoke to another person who’s familiar with the Brexit process who said to me that there’s a strong chance that it may not actually happen.”
June saw a “triple whammy” of disappointing economic news as growth in both the service sector and construction and manufacturing industries slowed whilst inflation hit a four-year high of 2.9%, well above the Bank of England’s target of 2%.
A rise in shop prices is seen as “inevitable” increasing pressure on households many of which are not seeing a comparable increase in wages.
Meanwhile the prospect of Prime Minister Corbyn has gone from a distant dream for committed Corbynites to an ever-more-likely scenario after a strong General Election result for the Labour leader.
The Labour leader’s platform of nationalising railways and raising wages and taxes is seen as far less business-friendly than a Tory government.
But it’s not all bad news for Brexiteers - Watt added: “I did speak to one senior Brexiteer who is absolutely confident that Brexit will happen if only for one very simple reason - Labour divisions mean that the legislation paving the way for Brexit will get through Parliament.”