EU Referendum – Update

Mervin King (Ex Governor of the Bank of England, No axe to grind) Weighed into the debate this week in an interview by Merryn Somerset Webb (MSW) of Money Week ( An excellent Publication)

He said

“The idea that somehow it is going to be bliss if we leave, or a complete disaster if we leave, is a gross exageration”

I other words these Prophets of Doom predictions by the Remain Campaign, which purport to be facts issued by Government Departments, are simply not facts.

So at a time of the most important vote in our lifetimes, our own Government is attempting to mislead us, using our own money to do so. Why would they do that? And perhaps more interestingly, Why is a conservative government that claims to be pro business doing that?

MSW concludes in her interview with Mr King that

“The Remain campaign needs to find some arguments that are not based upon made-up forecasts of lost household income a decade out, if they want to have a hope of his vote”

So it looks as if the ex Governer of the Bank of England will be voting for Brexit

My personal assessment is as follows:-  (Click on the Cartoons to Enlarge)

1. The Debate Falls into Two Camps:-
   1. The People who generate the wealth and have the self belief to know that unrestricted thay could trade with the world very successfully. Trade today is about knowledge transfer, and we have 4 of the world’s top ten Universities, the Top Business School and the Top Economics School. So What is holding us back? Enter
   2. Those people who do not generate wealth but spend our hard earned cash on building ever bigger empires that serve only themselves. That is those career merchants in Enterprise companies and the public sector.
2. The Point is that it takes people who have taken risks with their own money to take decisions. There is another arguement for staying in Europe, one of the main drivers for going in in the first place, namely peace. Our forebears wanted France and Germany on the same side to avoid WW111. Some claim Europe has achieved this. I would say that NATO has achieved this. Further that the EU interference in Ukraine has unified the Russian people behind Putin and created a far less stable environment. The EU would destroy NATO, and undermine the US.
3. There is the Funding from Europe Question, particularly for Science Research. Well Yes we give them, (by way of illustration) £1000 they give us back £400 with lots of Strings attached. These numbers are a guess, but I have seen the strings and they simply transfer all the risk to the innovator and create more jobs for the bureaucrats. I say keep the £1,000 and give it all to research with far fewer strings attached.
4. I think the final and important arguement revolves around this issue of self determination. There are many studies that show that healthy, happy, long-lived people with a quality of life are distinguised from those with by the ability to determing their own futures. There are the Historical arguements around Magna Carta and why we fought two world wars which are very valid, but this self determination issue goes to the heart of our sovereignty issue and is very real, very current and very important for the future of our children and theirs. Ask yourself – Do you want your lives to be run by French and German bureaucrats? That sounds like the Stuff of nightmares to me. Further that assumes that they would act in our best interest. Did they act in the best interests of Greece, the Founders of Democracy and a proud Nation State. They had the opportunity to give Greece a new start, write of the debt to manageable levels as we did for Germany after WW11. But no they simply crushed them with an impossible debt burden they cannot possibly repay. No wonder Athens is still on fire today. These are very serious matters.

In summary I have weighed the risks to my personal satisfaction, and simply cannot understand why anyone in their right mind would want to hand control of their childrens’ future to a bunch of Bureacrats who are probably not acting in our best interest.

Even if you have a low risk high pay (LRHP) job right now, are you prepared to sacrifice your childrens’ future for an easy number today? Because that is how you will be judged.

Let’s get a grip and crack on with building a better world where enterprise, innovation, and hard work pays.

For the numbers behind this please see https://www.welhatchamber.co.uk/europe-in-or-out-2/