A few more thoughts to follow on from last night's post:

Turnout

Turnout is crucial. If the majority is narrow, and especially if the turnout is low, the losing side will have a very hard time accepting the result.

For example, imagine if the vote goes 55% for Leave, and the turnout is only 60%. That means that only 33% of the electorate has said they want to leave. 27% would have expressly said they don’t want to leave, and 40% abstained.

But abstention can – and in my view should – be considered as being happy with the status quo. Yes, you can argue that it means that the abstainers are happy to go with the will of the majority of voters, but for such a major change – effectively a constitutional change – I don’t think that’s a safe assumption

So there ought to have been a requirement for a minimum turnout, and/or a majority of the electorate. In fact, for something this major, I’m inclined to think that a mandate to leave should require something like a two-thirds majority – of the electorate, not just of the turnout.

Something like that was the case in the original Scottish independence referendum – approval had to be by 40% of the electorate, not just a simple majority – though not in he 2014 one. I have criticised that fact in the past, but thinking about it now it seems right.

Parliament

Of course, this referendum will not be binding on parliament. If it goes to Leave, it’s possible that a majority of MPs could vote against the legislation that would have to be enacted to start the actual departure. That would have interesting results.

And if the majority is very slim in either direction, there will be calls for another referendum. Whatever happens on Thursday, we won’t have heard the last of this for a long, long time.