Will David Cameron have to resign if he loses the EU referendum?

Anyone who claims to speak with any certainty about the next six months in British affairs has either invented a time machine or is pretending. While I understand well that making a case – backed up by evidence and analysis – is the job of those of us who comment rather than report (an important distinction) on the Westminster carnival, firm judgements about what is about to happen are surely best avoided in the midst of this, the craziest domestic political story of the modern era. In such a context, claims that David Cameron will definitely have to do this or that the day after the vote are broadly useless. It mostly depends on things that haven’t happened yet.
I stress that the most likely outcome, because of the small c conservatism of the UK electorate, is an eventual win for Remain and Cameron’s survival until 2018-2019 after a messy and exciting campaign. Janan Ganesh, the FT columnist, wrote eloquently this week of the excessive excitement around the BoGo phenomenon (Boris and Michael Gove coming out for Leave) and the way in which their influence on voters is being overstated. The political class is full of professional hysterics, he says.
He has a point, of course, in that the news cycle and social media, the fight for market share and the quest for novelty have in the last decade made the whole business spin ever faster, often to the bewilderment and understandable disgust of people outside the media. On the night, I was one of those who fell for the erroneous idea that Cameron’s defeat on Syria was a big deal that eroded his authority, a view held by plenty of MPs when it happened, but Cameron handled it so calmly that within hours it was as though it had never happened.
But sometimes a story is exciting not just because it is a cracking short term story. It may have important longer term implications, as in 1975 and the European referendum. Incidentally, if you haven’t watched Michael Cockerell’s magnificent short film on this for Newsnight this week I cannot recommend it highly enough.
Were journalists wrong then to think the referendum in 1975 was dramatic and exciting? It was a hell of a story and a lot was at stake. Indeed, although people weren’t to know it, the roots of much that followed in the next four decades lay in that contest, in the Thatcher leadership coup of the same year, in the split in Labour, in the role of Tony Benn in fostering Euroscepticism and in the eventual fracture in the early 1990s in a Tory tribe torn by the internal contradictions inherent in Thatcherism. Two components of the Thatcher world view – open, global markets and cooperation which erode sovereignty, and the integrity of the self-governing nation state – were at odds after the very British creation of the Single Market in the 1980s. The Tories still can’t resolve the contradiction, although they are about to have a good go.
The latest excitement seems to be the question of whether David Cameron will have to resign if he loses the EU referendum. I don’t know; you don’t know; and even Cameron doesn’t know. But here are a few observations: