Calls for MP Redwood to quit over Euro words

WOKINGHAM MP John

Redwood is facing calls to resign following a newspaper article in which the staunch Brexiteer appeared to encourage readers to invest in European banks over the UK.

In his opinion piece published in the Financial Times, Mr Redwood suggested that, rather than trusting the Bank Of England with their money, investors should buy into the European Central

Bank – an EU organisation - and warned that the UK economy is hitting the brakes.

The article stated that “The money [of his share fund] could be better put to work in places where the authorities are allowing credit to expand a bit”.

Wokingham Liberal

Democrat parliamentary candidate Clive Jones said: “I’m just amazed that arch-Brexiteer John Redwood has changed his position on the UK economy. Prior to Brexit, it was going to be fantastic, now we’ve voted to leave the European Union he’s telling people to invest in Europe and not the UK, because the European Central Bank is going to repress interest rates.

Wokingham Labour parliamentary candidate Andy Croy also felt Mr Redwood should consider his position.

“He clearly needs to spend more time abroad with his money. I hear Moscow is lovely at this time of year,” he said.

“John Redwood used to claim that he spoke for England. It is clear where his loyalties lie – wherever he can make make some money. That might explain why he is so rarely seen In Wokingham.”

Mr Redwood hit back at his critics. He said: “I did not encourage investors to invest in Europe and the FT demonstrator fund has nothing in the EU. It does have a recently increased position in UK property.

“The Forbes statement is simply wrong.”