On the day the United Kingdom joined the Common Market on Jan 1, 1973, the editorial in this newspaper captured the views of much of the country. We wrote: “Whether or not this is to be regarded as a sunshine day for the British people will depend largely on how they react to the opportunities which now beckon. Enlargement of the community from six to nine members could spell the final atrophy of a once great nation; or, more probably, it could mark a new and splendid chapter in our long history.”

There is no doubt that since 1973, the country has prospered. Indeed, we joined the Common Market because we thought it was the answer to the economic malaise that had led to Britain being dubbed “the sick man of Europe”.

But all industrialised countries are wealthier than they were then, not just those in Europe. Arguably, the economic and financial changes wrought during the 1980s, together with the decline of trade union power, contributed far more to our GDP growth than membership of the Common Market.

Is it seriously being suggested that had we continued to function as an independent nation for the past 43 years like, say, Australia or Japan, we would today be the impoverished off-shore neighbour of a continental powerhouse? We cannot be sure; but there is no reason to believe so.