It’s EU Referendum Day
The UK media has been absorbed with the Referendum campaigns for the past 4 months and the day has finally arrived for the public to cast their vote. Almost 47,000 people are entitled to vote and by tomorrow morning there should be a result reached as to whether the UK will “Remain” in or “Leave” the EU.
How today’s vote works
Polling stations will be open today between 7am and 10pm.
British, Irish or Commonwealth citizens on the electoral register are able to vote automatically. Other residents, that met certain criteria, were able to register for a vote by Thursday 9 June, although this was extended by two days due to a technical fault on the website prior to the cut-off.
The Electoral Commission has suggested that almost 47,000 people are entitled to place their vote today in this historic milestone for the United Kingdom.
The question asked on the ballot paper is “Should the United Kingdom remain a member of the European Union or leave the European Union?”
To which a reply is required:
- “YES” for Remain
- “NO for Brexit
The results are calculated simply by a majority vote. There are 382 local counting areas who will be responsible for counting and re-counting the votes, after which results will be combined for 11 regions.
Finally, the national result will be revealed, expected by “breakfast time” on Friday 24th June.
Depending on the voting will depend if the result is clear as the counting process progresses.
Is the UK better off out or in?
It all depends on how you look at it, and what is important to you. It is a wide subject.
From a financial perspective, predictions are that should the UK leave the EU, the economy will take a downward turn and growth will slow, with a drop in the value of the pound. Wider financial products such as pensions and mortgages are also likely to be affected.
In terms of business, Leave supporters believe that exiting the EU will give more freedom from the burden of the EU regulation, but as there is so much uncertainty about how trade agreements would function outside the EU, most business owners are expected to support David Cameron and the Remain campaign.
The 3rd Referendum
This is only the third UK referendum in history.
The first was in 1975 where votes were cast as to whether the country should continue to be a member of the European Economic Community.
Five years ago, the second referendum took place, to vote about how MP’s are elected.
Dental & Medical Financial Services keep up-to-date with all key economic events and are constantly planning ahead for all eventualities when it comes to your finances. For information following the EU Referendum results, please call our team to discuss any thoughts or concerns.
Tel: 01403 780 770