EU Referendum: should we stay or should we go?
On Thursday 23 June we’ll all be answering the question of whether Britain should remain in the European Union. The referendum is a contentious issue, and the decision will have an impact on our industry. We take a look at the relevant key points and the potential effects that the decision could have.
It's hard to avoid news of the upcoming referendum, as it's an issue that could affect all of us, whether we vote to remain a member of the European Union or leave. A simple majority will determine the outcome, but the long-term effects take longer to establish.
Here at Corrotherm International, we like to keep our ear to the ground on topical issues and have been following the debates with interest. At the moment, opinion polls show an almost even divide among UK voters so it is impossible to predict the outcome. The result could also see a more lasting shift within the UK, and potentially bring about another referendum in Scotland on its continued position within the United Kingdom.
Who's for staying?
Prime Minister David Cameron is hoping to convince the UK voters to stay in the EU, and has renegotiated some of the terms of membership to better benefit the population. Britain will retain a “special status’ within the EU and will not be part of an “ever-closer union” with the other member states – the so-called United States of Europe.
Staying within the EU makes trade among member states easier, which undoubtedly helps to fuel economic growth. However, those who want Britain to leave the EU believe that there are too many rules placed on businesses and that the concept of “free movement” of people within EU states is at detriment to the UK.
A recent article in the International Business Timessuggests that 50,000 jobs in the manufacturing industry could be at risk if Britain leaves the EU. Labour MP and chairman of the Labour In campaign, Alan Johnson, has said: "For UK manufacturing jobs, our EU membership is absolutely critical. Two thirds of British jobs in manufacturing are dependent on demand from Europe. That's two thirds of our manufacturing base reliant on that single market access and Britain's membership of the EU. That's over one and a half million manufacturing jobs here in Britain.”
Who's for leaving?
However, not all business leaders agree. John Elliot, chairman and founder of Ebac said: “The EU is a failed concept – it doesn’t work for businesses. If we vote to remain, we may be stuck inside this failing project forever and that will create real problems for businesses.”
Elliot is one of 500 UK business leaders involved with the Business for Britain campaign. This campaign suggests that it comes down to a ‘Change or Go’ decision, with many SME businesses feeling that the EU has too much control over the British economy and that terms need to be renegotiated or we should opt out.
There certainly isn’t a simple answer to the complicated issue of whether we should stay in the EU or not; either way, the decision will be made this summer and we can start to plan for the future.
