They know that if Labour came out and supported a second referendum it would play badly with a large section of the electorate and damage Labour' chances of winning a general election. Despite this, we are told that Labour members and supporters are calling out loud for a second referendum - but this isn't true because most support Labour's conference policy which states that the Party's priority is a general election. Furthermore, polling shows that a majority of people respect the result of the referendum as shown in this post:
"Strikingly, almost every region across the country showed more people wanting to respect the referendum result and avoid a rerun – even in Scotland, which in 2016 voted to remain. Only London bucks the trend – and that only by a whisker, 41% against the above polling statement and 38% agreeing."What is also interesting is the number of people on the left who voted remain and are against a second referendum, including many Corbyn supporters. My view is that there won't be a second referendum - there is no majority in parliament for it - but that even if there was remain would lose. There are two reasons for that: one is that most people respect the result, as shown by the polling, and I can't see the type of people who would front a remain campaign and the kind of campaign they would run, winning.