Start talking Britain up, Eeyore!
Lord Lawson calls on May to sack ‘saboteur’ Hammond
BUSINESS chiefs last night rounded on Philip Hammond for being too negative about Brexit – as a former Chancellor called for him to be sacked.
A string of senior business figures said they were ready to embrace the opportunities of Brexit and urged ‘gloomy’ Mr Hammond to be more positive.
In a further blow to the embattled Chancellor, one of his predecessors, Lord Lawson, said he should be fired. Lord Lawson, who was Chancellor under Margaret Thatcher, accused Mr Hammond of being ‘grossly negligent’, adding: ‘He is unhelpful. He may not intend it, but in practice what he is doing is very close to sabotage.’
On Wednesday, Mr Hammond told MPs the prospect of leaving the EU had created a ‘cloud of uncertainty’ that was damaging the economy. To the fury of Downing Street, he also undermined Theresa May’s Brexit strategy by insisting he would wait until the ‘very last moment’ before releasing money to prepare Britain for the possibility of leaving the EU without a deal. It came as:
EU negotiator Michel Barnier criticised the Government’s ‘very disturbing’ refusal to pay a £90 billion ‘divorce’ bill and warning that talks were ‘deadlocked’;
The FTSE 100 index hit a record high – 19 per cent above its pre-referendum level;
George Osborne admitted he did not think Brexit can be stopped;
Ministers were forced to delay the crucial EU Withdrawal Bill in the Commons while they consider 132 pages of amendments tabled by pro-Remain MPs;
Jeremy Corbyn said he would still vote to stay in the EU, but dashed the hopes of Remainers in his party by declaring: ‘There isn’t going to be another referendum.’
Mr Hammond has tried to position himself as a ‘realist’ who is championing the cause of business. But business chiefs say his relentless pessimism risks taking down the economy. Marcus Dolman, joint chairman of the British Exporters’ Association, accused Mr Hammond of being too ‘negative’.
Mr Dolman, a senior executive at Rolls-Royce, said: ‘He’s probably talking a bit negatively. We need to be positive about this.
‘Businesses are resilient. They will be planning for all eventualities. If there is a hard Brexit then businesses will find a way around it.’
Others were less directly critical of the Chancellor, but emphasised the need for the Government to strike an optimistic note about Brexit. Karen Betts, chief executive of the Scotch Whisky Association, said Brexit offered ‘enormous opportunities’ to sign free-trade deals and boost exports to key markets such as China and India.
‘We need to be positive about this’
FOR the perfect antidote to the gloommongering Chancellor of the Exchequer, look no further than the pages of today’s Mail.
They are businesses large and small, from different industries, but on one thing they all agree: the Treasury’s in-house Eeyore couldn’t be more wrong about Brexit.
For while Philip Hammond sees leaving the EU as a long, drawn-out nightmare to be endured, many of Britain’s most dynamic business leaders spy only rich opportunities.
Take Marcus Dolman, the chairman of the British Exporters Association, and a RollsRoyce executive, who says Mr Hammond is being too negative and businesses will adapt whatever the outcome of talks.
Or Christopher Nieper, the managing director of a family womenswear business who hails the fall in sterling as a boon for exports and suggests ‘stop complaining and get on with it’.
Or indeed Sir James Dyson, who envisages Britain turning away from sclerotic Europe towards faster-growing economies in the rest of the world. Even the City of London is changing its tune, with senior bankers emphasising its resilience as Europe’s financial centre.
But still the Chancellor sees doom and disaster around every corner. Is it too much to hope that Mr Hammond might take a leaf out of these buccaneering business leaders’ books and start talking Britain up? The Mail isn’t holding its breath.
In a move of huge significance, Lord Lawson – Margaret Thatcher’s great Chancellor and arguably one of the most successful holders of that office post war – yesterday urged the Prime Minister to sack her errant Chancellor for ‘sabotaging’ Brexit.
He described Mr Hammond’s refusal to invest in preparations for ‘no deal’ only days after Mrs May made clear her willingness to walk away as ‘gross negligence’. The Mail would argue that by undermining our negotiating position he is guilty of treachery.
Worryingly, the Chancellor’s disloyalty came when cracks are showing on the EU side, and Cabinet unity could not be more critical.
This is a singular moment in our history, when Britain needs a Chancellor with the vision to embrace the opportunities of Brexit and not this dismal defeatist.