This chapter analyzes the social and economic drivers of Brexit and their relationship to the evolution of Tory-centered Euroscepticism and economic policy strategy. It argues that Brexit is best understood as a failure of social and economic community exacerbated by a neoliberal creed that justified both neglect of and attacks on the British social contract. It suggests that the combination of hardening Tory Euroscepticism, budgetary austerity, and voters’ growing anxiety over immigration led to both hostility to the EU and a related quest to regain a sense of economic community defined along increasingly ethnonationalistic lines. The chapter supports this argument with both qualitative evidence detailing the evolution of the Conservative Party’s stances on the EU and national and regional public opinion data. The chapter concludes that the British case offers a cautionary tale for both other European states and the EU about the political risks of economic austerity and neoliberal policies that undermine the economic bases of political consent.