Over two hundred business leaders which also include the former CEO of HSBC have backed the campaign for Britain to leave the EU. There are two camps which are for and against the move. Over a third of the largest Britain’s companies last month including Shell said that exiting the EU would result in loss of lobs and investment at risk. Vote leave which is one of the groups supporting the British exit disclosed its own list of backers including the former CEO of HSBC and the boss of pubs group.
Vote Leave states that while EU may be good for big multi nationals it would be a disaster for small business houses as it will act as a job destruction machine. However the Sunday Times news paper reported that two of the well known names on the list have not yet signed up. They were the founder of phones 4Jand the cofounder of car phone ware house. The paper also stated that one wonders as to how the list was compiled.
To argue the EU membership Vote Leave was planning to form a Business Council. It said that EU was holding back business. The Times newspaper means while those hedge funds were being planned to be used as exit polls to make big profits on the day of the referendum. However under the electoral law it is illegal to publish the results of the poll while people are still voting but a private poll could allow traders to exploit moves in the currency market with sterling expected to cross the dollar by a steep rise.
Sterling fell to its lowest this week on a perceived rise in the possibility of an EU exit, and on other companies and investors. However it later steadied. An anonymous broker told the Times paper that there is a lot interest in Brexit especially from the U. S. funds. On Tuesday the odds of a Brexit narrowed due to the Brussel bombing.
The pros and cons of the EU are many. The UK will settle a question on June twenty third that has been rumbling close to the surface of British politics for over a generation and that is should it remain with the EU or leave the organization and go about it alone. Both the sides agreed that the outcome of the vote will once and for all settle the argument of Britain’s EU membership of the future. Last year the Conservative election victory activated a manifesto to hold out a referendum on UK membership of the EU by the end of twenty seventeen. Most political people agree that given a free hand the PM would not want a referendum and that he is now desperate to secure Britain’s position in the EU. He went on a visiting spree to EU capitals this winter to garner support for his endeavor. Disclosing the result as a victory he took an oath to put his heart and soul to keep Britain inside a reformed EU but there are several members in his own cabinet who are waiting for a British exit.