Sussex Business Times - Issue 399 2016

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In or Out: That is the Question

So, what exactly are we voting on? The exact wording on the ballot paper will be: “Should the United Kingdom remain a member of the European Union or leave the European Union?” Everyone on the electoral roll will then have the opportunity to vote for one of the following; ‘Remain a member of the European Union’ or ‘Leave the European Union’. The Electoral Commission proposed this question, which has now been approved.

Strategies OMB likely to

How much does the UK give to the EU and vice versa? An accurate figure from the Office of National Statistics is just under £250Million a week, or £13Billion a year. This takes into account the UK’s rebate. In 2015 the EU’s spending on the UK was £4.5Billion, meaning the net contribution was about £8.5Billion. The £55Million a day figure that is often quoted doesn’t take into account the UK’s rebate, and is based on all EU spending by government AND some other sources. A more accurate figure would appear to be £35Million a day in total with a net contribution of £23Million a day.

union’ and a new mechanism to limit access to our benefits system for EU migrants. Surely, this creates the best of both worlds; in the EU but with independent powers? But many disagree, saying that the ‘reformed’ EU won’t in fact make any difference to the issues we face. However, at the beginning of March, Philip Hammond spoke out on Mr Cameron’s negotiations, explaining the overall benefits it creates: “It will boost EU competitiveness by completing the European Single Market, prioritising international trade agreements, and cutting the burden of EU regulation. And it provides an emergency brake to limit access to our benefits system for EU migrants and gives us new powers to exclude criminals and to stop exporting child benefits at UK rates. I think that’s a good deal for Britain.” What do our local MPs think? It may be early days, with a lot of debating, contemplating and researching

to do between now and late June, but we got in touch with some local MPs to shed some light on their opinions on the EU referendum. Caroline Ansell, Conservative MP for Eastbourne said: “We are now only a few days into what is going to be an intense, complex and four-month long campaign. Like millions of others, I have not yet made up my mind how I will vote and I very much want to hear a great deal more before I do decide. I am also chairing an EU Referendum debate in Eastbourne in May where I will be listening to more views and I don’t see how I could effectively be involved in that event if I indicated now which way I am going to vote. I understand that people may want to know my opinion, but this is an extremely important issue that will have consequences for generations to come, and I want to be in possession of all the facts I can before going in to the polling booth on 23rd June.” Amber Rudd, Conservative MP for

What are the economic benefits of being in the EU versus leaving? Various studies have attempted to quantify the benefit or cost to the UK of its membership of the EU. This is a very difficult exercise and depends on a wide range of assumptions. Estimates vary significantly. For example, a 2005 study by the Institute for Economic Affairs found a cost of between 3% and 4% of GDP while a 2013 study by the CBI found a net benefit of between 4% and 5% of GDP. A 2015 study by Open Europe found that the cost of the 100 most burdensome EU regulations was £33.3 billion a year. Hastings was a bit more decided: “My decision is to vote to remain in a reformed EU. Staying in a reformed EU will make us stronger, safer, better off. I believe that the advantages of being in the EU outweigh the frustrations that are also part of being in it. Last Friday I attended an event for businesses of Hastings and Rye at the Hastings museum. These were entrepreneurs and owners of small local businesses, such as IT, hotels and

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