Brexit will help us create jobs, say 300 top business chiefs

MOrE than 300 business leaders have called on Britain to vote to leave the European Union – arguing that membership is undermining the country’s competitiveness.

They say Brussels red tape ‘stifles every one of Britain’s 5.4 million businesses’. A Brexit vote would allow them to create more jobs, they claim.

The letter is signed by Superdrug co-founder Peter Goldstein, former Sony vice president Steve dowdle, Goldman Sachs Md david Sismey and Sir Patrick Sheehy, former chairman of British American Tobacco. All signed in a personal capacity.

it has also been signed by dozens of small and mediumsized business owners and managers. Between them, the signatories employ hundreds of thousands of staff.

The letter will give more ammunition to the Brexit camp, which has been hit in recent weeks by remain campaigners attempting to portray Brexit as an economic disaster.

Last week the international Monetary Fund warned a Brexit vote could be ‘very, very bad’ for the economy.

But the letter, published by the daily Telegraph, states: ‘year-on-year the EU buys less from Britain because its economies are stagnant and millions of workers are unemployed.

‘According to Mervyn King, the former Bank of England governor, the euro “might explode”. Brussels’ red tape stifles every one of Britain’s 5.4 million businesses, even though only a small minority actually trade with the EU.

‘it is business – not government – which generates wealth for the Treasury and jobs for our communities. Outside the EU, British business will be free to grow faster, expand into new markets and create more jobs. it’s time to vote Leave and take back control.’

One signatory is Lord Farmer, a former Tory Party treasurer. in an article, he writes: ‘Warnings of disaster if we leave are misguided. Britain, the world’s fifth-biggest economy, should be confident that others will want to trade freely with it especially if, like the EU, they already do so.

‘Europe has a surplus of nearly £70 billion with us and no reason to put up barriers.

‘Nor will EU countries want to restrict their access to the London markets. Canary Wharf alone does more business than Frankfurt and we are Europe’s financial outlet to the world.

‘Everyone benefits when London booms. We can see the possibility now for a bright new beginning. By voting to leave, we will be taking back democracy and this will benefit everyone.’

Last week it emerged Britain Stronger in Europe is being handed hundreds of thousands of pounds by America’s biggest banks – Goldman Sachs, Citigroup, Morgan Stanley and JP Morgan, all of which paid fines worth billions for their role in the financial crash.

downing Street is said to have rejected Angela Merkel’s offer to intervene against Brexit. A remain campaign source told the Sunday Times the German chancellor was turned down because voters assume EU leaders want Britain to stay as it is in their best interests, not ours.