The new normal is shambles, says City boss
BusINess leaders are demanding a second Brexit referendum amid widespread dismay at MPs’ rejection of Theresa May’s deal.
senior City figures have signed a letter supporting a second referendum in the hope the result can be reversed.
It came as one FTse 100 boss told Channel 4 News: ‘The new normal is shambles. Politicians seem to be completely indifferent to the impact of their inability to govern. everyone else has to get up, get dressed, make decisions. But they appear to have lost sight of their basic purpose.’
signatories of the letter include former sainsbury’s boss Justin King, who is now a non-executive director of Marks & spencer. Other backers are expected to include sir Mike rake, former chairman of BT Group, former City Minister lord Myners, and sir Mark Boleat, former policy chairman of the City of london Corporation.
The letter – which could be published today – has been organised by pro-remain spin doctor roland rudd, brother of Work and Pensions secretary Amber rudd. According to a draft of the letter leaked to sky News, it will say: ‘Many businesses backed the Prime Minister’s Brexit deal despite knowing it was far from perfect. But it is no longer an option. The priority now is to stop us crashing out of the eu with no deal at all. The only viable way to do this is by asking the people whether they still want to leave the eu.
‘With the clock now ticking rapidly before we are due to quit, politicians must not waste any more time on fantasies. We urge the political leadership of both the main parties to support a People’s Vote.’
Mr King said: ‘It was clear the Prime Minister’s deal was the worst of all worlds, neither Brexit nor remain.
‘It would have left us poorer and less influential with almost all of the key aspects of our future relations unresolved.’
A spokesman for M&s said: ‘Justin King has not signed this letter on behalf of M&s. It was his personal decision to sign it based on his personal view.’
Meanwhile, more than 100 bosses of firms of all sizes have signed a rival letter from pressure group leave Means leave calling for a so- called ‘managed no deal’, where only the most basic agreements are signed before leaving the eu.
Backed by bosses including Tim Martin, of pub chain JD Wetherspoon, and John Mills, of consumer goods firm JMl, the letter said: ‘The Government’s deal is not in the best interests of business, nor is it the only option. As businesses, we do not fear a managed no deal but welcome it. A managed no deal would be good for business.’