April 2016 Credit Management magazine

BREXIT
I am a firm NO, unless anyone can convince
me of a good reason to vote YES, I have not
been convinced to date. To be clear on this I
actually do love ‘Europe’, I just hate the EU. I
am not advocating that Britain leaves ‘Europe.’
The issue that I have is that the EU consists of
28 member counties that are making the rules
and as a member of the EU, we must obey these
rules and regulations which are often made by
people and institutions in Brussels that we, the
voters, cannot hold to account. This is not fair, and
it’s not democratic. In the credit world, I have
experienced several creditor companies trying to
work as one voice during insolvency proceedings
and it just never works, one voice wants one thing
and someone else wants another, it just takes too
long to get a consensus.
I understand that UK vote in the EU parliament
makes up just over nine percent. This means we
are constantly outvoted on issues that matter
to Britain. If we pull out of the EU it will allow
British politicians to create our own laws rather
than being dictated to. The other major issue
is the European Market and Britain does not
need to be a member of the EU to access this
potential customer base. Many nations around
the world have deals with the EU. We were a
highly successful trading nation before joining
the EEC. We were led to believe that by joining
the EU it would be easier to expand our trading
within the member states. This has not been the
case. Instead, the EU has discouraged trade with
red tape and excessive legislation. By Leaving
we could not only trade with the EU on our own
terms, but also with those outside it like China,
the US, India, Australia and Canada.
Nigel Fields MCICM – Think Tank member
I will be voting to leave the EU. In common I
suspect with many entrepreneurs and business
people from all walks of life, I am going to jump at
the chance to finally escape the clutches of
this archaic, money grabbing and invariably
ineffectual ‘union’. Unless you happen to be
a French farmer – living high on the hog of
generous hand-outs of our hard earned for
umpteen years, merci beaucoup – then this
red-tape obsessed, self interested organisation
will I am sure be able to struggle along without
our billions of pounds of Sterling, year in, year
out. It is a nonsense that our trade relations will
be severely affected. If anything, we will be
better off free of these shackles which have been
unquestionably holding us back for lost decades.
The world has moved on and we are in grave
danger of being left behind.
David Andrews – Credit Management columnist
FIRSTLY I must stress that the views expressed
here are entirely personal, and not those of the
IPA nor representative of Insolvency Practitioners
generally. That said, how might IPs view this
debate? IPs might be tempted to wonder whether
the predicted gloom following a Brexit could
trigger a recession, a role for IPs in clearing
out of some of those zombie companies, and a
healthier basis for moving the economy forward
as a consequence. Firms with cross-border
work, particularly where that involves EU states,
might be dismayed at the prospect of exiting
this market and the knock-on effects that could
have. We don't currently have harmonisation
of insolvency law across the EU, but we do
have mutual recognition of qualifications and
procedures. Would an exit put those in jeopardy,
to the detriment of efficiency in realising assets
for creditors?
David Kerr MCICM –
Credit Management columnist
UNDECIDED
TO this day I am still none the wiser and feel
like The Clash’s famous single ‘Should I stay or
should I go? – How can the general public decide
when our current government cabinet members
and other political parties are split down the
middle whether to exit or stay! I don’t feel there
is enough basic information to the general public
on subjects such as, economic consequences and
trading outside the EU? Regulations and law? EU
budget? I think Mr Cameron has been a bit vague
on recent negotiations and agreements he has
made with other EU leaders and it is evident that
other EU leaders definitely need the UK to remain
in the EU since we joined in 1973 but is it better
the devil you know and not spoil 40 years of hard
work? Or is the grass really greener on the other
side? I am still unsure!
Jason Braidwood FCICM(Grad)
– Think Tank member
I am currently undecided. The heart says stay
in as we are better united than alone, however, I
need pure facts – not emotion and at the moment
there is little clarity on either side. All I have
been able to glean is trade stats from the ONS
and I want to know financially what could work
best. I am employed by a French company, so
that is another motivator to vote stay.
Andrew Share MCICM – Think Tank member
20 April 2016 www.cicm.com
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