Everyone moves down the ladder. Cleverer people than you will do the job you once did.
Your income will shrink even as prices rise (as they are already doing).
The really brainy people will move abroad following the multinationals, the UK will become a quiet backwater*
Your children will have fewer opporunities and wont be able to move to EUrope for work as many Northeners did in the hard times of the 80s. Remember Auf Wiedersehen Pet?
*There'll still be pockets of excellence but only for the well educated.