Various bosses of Britain’s biggest companies have openly shared their concerns over an exit from the European Union that is likely to weigh heavily on the UK’s economy. The bosses from various entities the likes of telecoms group BT (L:BT), retailers Marks & Spencer (L:MKS) and Asda (L:WMT) stated that it would only be fair to remain within the EU whose access enables firms to grow, invest and create jobs. And in support of this, chief executives of 36 FTSE 100 companies have signed a letter in patronage to stay in the EU.
The letter expounded on the need to have unrestricted access to businesses to the European market which hosts over 500 million people. Hence for purposes of remaining healthy and safer and if the economy is to remain intact, Britain must choose to endure within the EU.
However, two-thirds of the UK’s largest publicly listed businesses did not sign the letter and instead decide to stay non-aligned in the highly charged debate. There were also notable absentees the likes Tesco, Sainsburys, RBS and Barclay’s bosses. The leave campaigners argued that business attitude is much more divided hence their sympathy is on small enterprises.
Nevertheless, a referendum on whether or not the UK should stay in the EU will be carried out on 23 June and which the Prime Minister, David Cameron, is urging Britons to remain in the 28-member bloc. And on concerns that Britain could vote to leave the bloc the pound posted its biggest one-day loss in almost six years probably as a result of the powerful London mayor, Boris Johnson citing that he would battle for a British exit.
And as the campaign kicks off for the referendum on 23 June, Mr. Cameron has vowed to travel to all parts of the UK to present his case over the EU stay. There is optimism that Cameron’s principal arguments on jobs, prosperity and national security will oblige more voters who apparently seem uninterested with the whole European deal.