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Brexit: pro-leave Next boss urges government to lay out core principles | |
(35 minutes later) | |
Prominent leave campaigner Simon Wolfson, chief executive of clothing retailer Next, has called on the government to lay out some of the core principles of its Brexit strategy. | Prominent leave campaigner Simon Wolfson, chief executive of clothing retailer Next, has called on the government to lay out some of the core principles of its Brexit strategy. |
Lord Wolfson, who has previously warned that the British economy would be “finished” if the government pursued an isolationist Brexit course, said: “It would be helpful to understand the principles and objectives of the government with which they are going to enter negotiations.” | Lord Wolfson, who has previously warned that the British economy would be “finished” if the government pursued an isolationist Brexit course, said: “It would be helpful to understand the principles and objectives of the government with which they are going to enter negotiations.” |
He said more openness on immigration policy, which could have a big impact on retail businesses which directly employ a large proportion of EU nationals and whose suppliers are also reliant on immigrant labour, would be particularly helpful. | He said more openness on immigration policy, which could have a big impact on retail businesses which directly employ a large proportion of EU nationals and whose suppliers are also reliant on immigrant labour, would be particularly helpful. |
The Conservative peer said: “There is uncertainty around Brexit but I would much rather that the government came up with a good plan than something rushed out to get rid of people worried about uncertainty. It would be a mistake to rush it.” | The Conservative peer said: “There is uncertainty around Brexit but I would much rather that the government came up with a good plan than something rushed out to get rid of people worried about uncertainty. It would be a mistake to rush it.” |
But, while revealing disappointing trading figures for the Christmas period and a gloomy outlook for 2017, Wolfson said he did not think uncertainty over Brexit was stopping people from shopping: “It is more the fact that incomes are likely to be squeezed.” | But, while revealing disappointing trading figures for the Christmas period and a gloomy outlook for 2017, Wolfson said he did not think uncertainty over Brexit was stopping people from shopping: “It is more the fact that incomes are likely to be squeezed.” |
Wolfson was one of a handful of senior business leaders to openly back Brexit but has said in the past that the referendum vote was about UK independence, not isolation, and the country should be aiming for “an open, global-facing economy”. | Wolfson was one of a handful of senior business leaders to openly back Brexit but has said in the past that the referendum vote was about UK independence, not isolation, and the country should be aiming for “an open, global-facing economy”. |
Despite backing Brexit, Wolfson has warned that clothing prices are likely to rise by about 5% because of the related fall in the value of the pound against the dollar, which is used to source goods in the far east. | Despite backing Brexit, Wolfson has warned that clothing prices are likely to rise by about 5% because of the related fall in the value of the pound against the dollar, which is used to source goods in the far east. |