How to Vote in the EU Referendum

With just seven days until the EU Referendum, for many the choice is too overwhelming. Exaggerated claims, questionable forecasts and personal attacks have been the order of the day in this campaign, and as a result people do not know what to believe or how to vote.

The answer is simple. Voters must ask themselves whether they prioritise sovereignty or a strong economy. There is a consensus among economists that a Brexit will have negative consequences (although the extent of this is highly contentious); in the short run due to the loss of confidence in financial markets and in the long run as a result of the reduction of foreign direct investment, which is needed to fund the UK’s balance of payments deficit.

Conversely, leaving the EU will allow the UK to regain sovereignty, or, as Vote Leave has put it so persistently, “take back control”. The European Union is a fundamentally flawed political organisation – the most powerful institution, the European Commission, is an unelected body which is unprecedented in modern Western democracy. The European Parliament’s ‘Strasbourg Circus’ is highly inefficient and wasteful, and it is fair to say that there is a legislative bias in favour of Germany and France.

Immigration is a largely null point. Despite being the most important issue for many voters, the reality is that not much will change. With unemployment at the natural rate, the economy is desperately in need of a greater supply of labour to ease the building inflationary pressure. Owners of businesses across the UK requiring low-skilled labour have been speaking out about how a Brexit will mean that they will struggle to find staff for their businesses. This means that even if the UK leaves the EU, an overwhelming majority of immigrants will be allowed in the UK regardless, because the economy quite simply needs them, and thus the number of migrants will not change significantly.

Therefore the choice for voters is simple: choose the economy or choose sovereignty.

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