Today I’m IN

As a Nigerian Born Migrant in Britain, today I will be voting to REMAIN in the European Union.
My personal convictions and politics have always been Left of Centre Liberal and so naturally I will gravitate towards remain. However in this case, my decision is based mainly on capitalist leanings. Britain is a more prosperous country being a member of the EU and leaving will have a telling effect on the economy in the short term and possibly the long term. Yes, Britain will survive outside the EU and have done so for over a thousand years but if given a choice between merely surviving and economic prosperity most rational people will choose the latter.
Immigration has been of ‘Net Benefit’ to the economy of the U.K. The leavers will tell you that immigrants from the EU undercut the indigenous population on wages. The inconvenient truth is that these lower wages helps British companies to remain competitive against cheaper imports. Lower wages means lower cost of production all other factors remaining constant. Without these lower wages, a lot of British industries will fold up and the economic benefits will be lost. Have we forgotten just a few years ago when we lived in ‘outsourced’ Britain? In the short term, if these migrants leave, wages will probably increase for a few. It will increase to a point that the companies can no longer afford these wages and probably be forced to close. What next? Import these same goods from abroad, most probably the EU?
Another argument is that Britain pays a big price to sustain the EU. They say £350m a week before rebates of about 66%. On the surface this looks like a very big price to pay and could be spent on better things. Let’s look at this from a purely business point of view. These payments are a necessary investment, the U.K. invests these payments in building its main trading market. It’s worth noting that the EU is Britain’s biggest trading partner. The payments are used to develop its market, a more prosperous Europe means a high net worth market that Britain can leverage upon. It’s no coincidence that the biggest economies and exporters like Germany and France are also the largest net contributors.
For the above reasons and more I am IN.

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