As 23rd June 2016 looms large on the horizon, nothing is surely more topical than the EU referendum at the moment. As our politicians continue to hotly debate the topic (or rather sling mud at each other), only one thing seems to be certain at this moment in time… it’s going to be a close-run thing.
Recent data from the British Chambers of Commerce, released from their final survey before the poll, showed that the lead held by the ‘Remain’ camp has narrowed. Interestingly, when looking at the results a little closer, we can see that a 54.1% majority of senior business people surveyed intend to vote to remain.
Those trading with other EU markets expressed the strongest support for that particular campaign. Another intriguing finding was that business people representing micro-businesses were significantly more likely to vote ‘Leave’ than those from large entities.
If the last General Election taught us one thing though, it was that such polls and surveys should very much be taken with a pinch of salt. As such, there is still all to play for.
Although it isn’t my place to pass on my opinion to you, I would say that history dictates that whatever the outcome, neither solution will prove totally positive, or totally negative. Some will benefit while others will find themselves suffering as a result. It could even be that things get worse before they get better. The truth is that nobody really knows with any certainty!
Whatever the outcome on the 23rd, life will go on and business will continue. The likelihood is that once the dust has settled and Westminster has tried to glue itself back together, the attention will quickly turn back to economic growth, with so much time and attention having recently been given to the build-up to the referendum.
As accountants, we will always be on hand to advise on how any changes might affect our clients.