EU Debate: Should we stay or go? Part 1/2

An argument to stay...

The referendum on our future role in Europe is four short months away. The excitement is palpable and it’s hard to get away from the cut and thrust of debate in pubs and coffee shops across the nation. Perhaps the least we can hope for in preparation for one of the most important decisions in decades is that there is a serious and mature discussion of the issues. The benefits of our membership of the EU and the negative impacts that our membership brings. Here’s hoping. Given that the most important headline from yesterday’s PMQs was the quality of the suit being worn by the Labour leader and whether his tie was done up doesn’t arguer well.

One of the biggest challenges for anyone making up their mind is what exactly the world would be like should we choose to leave. No one is quite sure. It would appear that there would be two years of negotiation before we depart and then, well no one seems to know. In the short term early signs are not good. If the announcement from Boris that he will campaign to leave can send the value of the pound tumbling it seems likely that a decision to actually leave could see us all carrying stacks of fifty pound notes in very large wheel barrows on the to the supermarket. Not to mention the angst ridden stock exchange which is in a constant state of turmoil. Much more strain from a decision to leave could be fatal. It would be slightly ironic that months after a leave vote, the London Stock Exchange then votes to create its own European union with Germany’s Deuteche Borse. It also seems likely that our national credit rating will also take a hit. Heaven knows what the likely resignations of Messrs Cameron and Osborne will do

This sort of turmoil certainly won’t do much for the confidence of first time buyers and may put pressure on the Bank of England to increase interest rates. For developers more widely the effect may be less harmful. It is difficult to tell what impact any decision will have on foreign investment or off-plan sales from the far east. Although it seems unlikely that the UK will be seen as a safer place to put your money should we decide to leave.

All in all, a difficult four months for all of us. Here’s hoping we can all look beyond the cut of a chap’s jibe. In this case Mr Corbyn’s. And try our hardest to concentrate on the issues.