Brexit poses 'threat to jobs'

UK’s business leaders back PM and warn that an exit will put jobs at risk

London: The bosses of more than a third of Britain’s top companies yesterday urged voters to keep the country in the European Union, warning that an exit would threaten jobs.

Some 198 business leaders wrote a joint letter backing Cameron’s deal to reform the EU. Representative pic/AFP

Some 198 business leaders wrote a joint letter backing PM David Cameron’s deal to reform the EU.

“Following the prime minister’s renegotiation, we believe that Britain is better off staying in a reformed European Union,” they wrote.

“We believe that leaving the EU would deter investment, threaten jobs and put the economy at risk,” wrote the business chiefs, who between them employ around 1.2 million people. “Britain will be stronger, safer and better off remaining a member of the EU,” it concluded.

The letter comes as a boost for Cameron, who was rocked on Sunday by the decision of London mayor Boris Johnson to back ‘Brexit’.

However, critics pointed out that many large employers had not signed the letter and accused Cameron of “bullying” businesses into supporting his position.

“Despite the bullying of a prime minister who has no real business experience, it is other normal commercial factors which will determine the continued success of British businesses to invest and grow,” said Richard Tice, co-founder of pro-Brexit group Leave.EU.

“Brexit will reduce unnecessary regulatory burdens and cost on business, which can be used to invest in more jobs, not less,” he added.

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