UK business chiefs push for ‘Remain’ on referendum eve

London / AFP

Bosses from more than half of Britain’s biggest companies on Wednesday urged Britons to vote Remain on the eve of a critical EU membership referendum.
Almost 1,300 business executives — including those from 51 of London’s top FTSE 100 listed companies —wrote in a letter to The Times newspaper that Britain leaving the EU could cause an “economic shock”.
The signatories include Virgin boss Richard Branson and US media mogul Michael Bloomberg.
“Britain leaving the EU would mean uncertainty for our firms, less trade with Europe and fewer jobs,” wrote the executives, whose businesses together employ more than 1.75 million people.
“Britain remaining in the EU would mean the opposite: more certainty, more trade and more jobs. EU membership is good for business and good for British jobs.” They added: “Smaller businesses and the people they employ are particularly vulnerable to any economic shock that could follow a vote to leave.”
In contrast however, 100 bosses of small businesses wrote to The Sun tabloid to call for Britain to vote “Leave”.
“Today’s EU is no longer just a trading agreement. It is a project aimed at creating a massive political and economic union,” they said in an open letter. “We believe many of the ideals of the EU are not in the best interests of British business or the British people. “Small and medium-sized businesses are constantly held back by unnecessary EU regulations and red tape.”