EU: Britain better off staying put, businesses say in ‘unprecedented’ letter » SMEInsider

EU: Britain better off staying put, businesses say in ‘unprecedented’ letter

Britain’s exit from the EU would have a negative impact on the economy and put jobs at risk, according to the heads of some of the UK’s largest companies.

The bosses of 36 FTSE100 firms signed a letter that was published in The Times, in which they argued that leaving the European Union would endanger the economy by deterring foreign investment in the UK.

CEOs of the likes of BT, Marks & Spencer, Vodafone and Burberry were among the 198 total signatories of the letter, which was organised by Stronger in Europe and Downing Street – a move Number 10 called “unprecedented”.


Two-thirds not included

But, Brexit supporters were quick to point out that this only represented one third of the UK’s largest companies.

Commenting on the missing FTSE signatories, Prime Minister David Cameron said that companies that had not pledged their support – which included RBS, Barclays, Tesco and Sainsbury – were reticent to “make any form of political statement”.

Mr Cameron’s comments came at an appearance at the first of a number of pro-EU promotion events, held at O2’s Slough headquarters.

He added: “If the leave campaign could produce 35 business leaders of this sort of stature they’d be over the moon and I don’t think they have the prospect of doing that with FTSE 100 leaders in any way.”

The referendum on the UK’s position in the EU will take place on 23 June.

  • Ian Cook

    So what about the 64 other MD’s of FTSE 100 companies that did not sign the letter????