HOW THEY GET IT WRONG EVERY TIME

The then Federation of British Industries supported rejoining the Gold Standard in 1925, which wrecked the economy until it left in 1931.

At the 1970 general election the CBI and trade unions tried to fix prices and wages, which led to soaring inflation.

In the 1980s, it urged firms to fight Margaret Thatcher over economic reforms which transformed the UK.

The CBI backed the exchange rate mechanism, the precursor to the euro, which sent interest rates flying.

It said Britain should join the euro when it launched in 1999.

In May 2015, then CBI president Sir Mike Rake said there was ‘no credible alternative’ to Britain remaining.