The phoney war that preceded the official EU referendum campaign was pretty depressing. Three days into the campaign proper – it started April 15 – there is little sign that the standard of debate has improved.

One side warns of economic catastrophe if the UK leaves, quoting improbably large and essentially unprovable costs in terms of output and employment. The other assures us that by leaving, the UK could reclaim control of its destiny in a new age of prosperity free from the shackles of EU regulation.