Monday 18 October 2021
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HomeEconomyBusinessSupport for Brexit grows as 300+ UK businessmen back exit from EU

Support for Brexit grows as 300+ UK businessmen back exit from EU

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London: A letter from more than 300 business leaders was published on Sunday in The Telegraph in support of the United Kingdom voting to leave the European Union in the EU referendum next month.

The signators, writing in a personal capacity, are connected with businesses of small to medium size. This is in contrast to multiple, high-profile, supporters of ‘Britain Stronger in Europe’, the official campaign to stay in Europe. This support has included financial donations from companies such as J P Morgan Chase and Citigroup. Those supporting a to leave the EU have previously claimed the campaign to remain is only supported by big business.

The Telegraph suggested the letter would be interpreted as a response to last week’s warnings from the International Monetary and Bank of England that voting to leave the EU would have negative consequences for Britain’s economy. These institutions warned that the UK leaving the EU would increase uncertainty as new agreements were negotiated, and cause a fall in the value of the pound sterling. One of the signatories, Lord Farmer, has also stated the EU will still want to with the UK, and has “no reason to put up barriers.”

The letter’s publishing coincides with that of research from Leave stating UK exports to the EU have performed worse over the last fifteen years than any other EU country. Leave argue this shows “the ‘single market’ has failed British exporters”.

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