This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.independent.co.uk/news/business/news/eu-exit-backed-by-250-business-leaders-a6954131.html

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
EU exit backed by 250 business leaders EU exit backed by 250 business leaders
(about 7 hours later)
The campaign for Britain to leave the EU has been backed by 250 business leaders including the former chief executive of HSBC, the Vote Leave group said on Saturday, hoping to counter the view that UK businesses back staying in the bloc. Brexit campaigners have hit back in the battle of the endorsements - unveiling a group of 250 business leaders and entrepreneurs who have signed up as backers of the campaign to leave the European Union.
The camps arguing for and against Britain staying in the European Union ahead of a referendum on British membership on June 23 have both made the economic impact of a 'Brexit' a cornerstone of their campaigns. In a repost to pro-EU supporters, who recently released a list of 30 FTSE companies who publicly recommended a remain vote, the main anti-European campaign group released their own list of business backers. 
Last month, the bosses at more than a third of Britain's biggest companies including oil giants Shell and BP, and its largest telecoms group BT said leaving the EU would put jobs and investment at risk. The figures include the former HSBC chief executive Michael Geoghegan, JD Wetherspoon pub boss Tim Martin, the hotelier Sir Rocco Forte and Luke Johnson - chairman of continental-style cafe chain Patisserie Valerie.
On Saturday, Vote Leave, one of the groups supporting a British exit, unveiled its own list of backers including Michael Geoghegan, former Chief Executive of HSBC Group, John Caudwell, founder of Phones4U and Tim Martin, the boss of pubs group JD Wetherspoon. The names were gathered by the campaign group Vote Leave - but in contrast to the FTSE letter all those who are involved are doing so in a personal capacity.
“With our growing list of business supporters, Vote Leave will make that case that whilst the EU might be good for big multinationals, for smaller businesses it acts as a job destruction regulatory machine,” Matthew Elliott, Chief Executive of Vote Leave, said. The campaign group also announced that the former British Chambers of Commerce director general John Longworth, who quit after indicating his support for Brexit, will take up a new role with Vote Leave.
Vote Leave also said it was forming a Business Council to argue that EU membership was holding back business. Mr Longworth has been appointed chairman of Vote Leave's business council and claimed business was divided on the issue.
That group will be headed by John Longworth who quit as director general of the British Chambers of Commerce (BCC) lobbying group after he spoke out in favour of leaving the EU, accusing Prime Minister David Cameron of trying to scare voters into backing his case to stay in the bloc. “This is the most important political debate of a generation,” he said.
Meanwhile the Times newspaper reported that hedge funds were planning to use exit polls to make big profits on the day of the referendum. “Business is divided on the issue and it is vital the full breadth of business opinion is heard. Many firms struggle with relentless interference from the EU and rules that are stacked in the favour of a select number of businesses.
Under electoral law, it is illegal to publish the results of such polls while people are still voting but a private poll could allow traders to exploit moves in the currency market, with sterling expected to rise sharply against the dollar on the back of an “In” vote but decline if Britons vote for an exit. “If we Vote Leave, liberated from the shackles of EU membership, jobs will be safer, Britain will be able to spend our money on our priorities and we can look forward to faster growth and greater prosperity in the future.”
Sterling fell to multi-year lows this week on a perceived rise in the chances of an EU exit, and on companies and fund investors hedging against it, though the currency later steadied. A survey of small and medium-sized firms commissioned by the group found that 32 per cent said the EU hinders businesses like theirs, while 25 per cent said it helped them. The largest proportion - 40 per cent - said it made no difference.
“There is a lot of interest around Brexit, particularly from the big U.S. funds,” one unnamed broker told the Times. The YouGov study indicated that 14 per cent of the firms believed that the EU makes it easier for their business to employ people while 31 per cent said Brussels’ rules made it harder for them to employ people, 48 per cent said EU rules made no difference.
The odds of a Brexit narrowed on Tuesday as the Brussels bombings were seen boosting the 'Out' campaign. Matthew Elliott Vote Leave's chief executive said: “With our growing list of business supporters, Vote Leave will make that case that whilst the EU might be good for big multinationals, for smaller businesses it acts as a job destruction regulatory machine. Brussels hinders smaller businesses, particularly those firms who can't afford to lobby Brussels to curry favour. Jobs, wages and our economy will thrive when we take back control and vote Leave.”
But Remain campaigners insisted that British business supported a vote to stay in the EU in the 23 June referendum.
Britain Stronger in Europe's deputy director Lucy Thomas said: “Survey after survey have shown that businesses of all sizes and from all sectors overwhelmingly back Britain remaining in the EU.
“It is telling that Vote Leave's poll doesn't even ask the most important question about whether Britain should remain in the EU because they know most businesses - large and small - disagree with them. Instead they resort to leading questions about regulation.
“It's also telling that all those listed as backing Vote Leave are doing so in a ‘personal capacity’. They clearly couldn't find a single business that officially backs their position.
Business Secretary, Sajid Javid, added: “The evidence is absolutely clear. Every major survey of businesses, large and small, shows a clear majority of firms want to remain in the European Union. On average, eight out of 10 firms want to stay in the EU and keep Britain's full access to a single market of 500 million consumers.”