FTSE Bosses Frustrated over Brexit Pressures

FTSE 100 bosses have rejected pressure from the government to publicly support the current Brexit strategy. Blue-chip directors are reportedly not impressed by attempts to persuade them to sign a letter praising Theresa May’s attempts to secure a transition period following the UK’s departure from the common market in March 2019.

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shareprices.com - Thursday, September 07, 2017

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The letter says that some bosses personally supported the remain or leave campaigns during the referendum, but that 15 months later they share an understanding that the Brexit is happening, and that they have a commitment to ensure that the outcome is successful for the whole country.

According to the Financial Times, many business leaders have said they feel strong-armed by ministers, and others have questioned the strategy that the government is proposing. Company leaders have been calling for some clarity about Brexit, including the proposals to limit the flow of migrant workers - which is something that a lot of companies have been relying on over the last few years.

One FTSE 100 leader commented that to support the letter, someone would have to be craven or manoeuvring to earn a nomination for knighthood.

The Confederation of British Industry is working on a rival letter, and is looking for signatories to speak out about how they feel that the current uncertainty surrounding Brexit is damaging business in the UK. There are many issues that the government has not yet started to iron out in substantial detail, and the time limit for talks is running down.

 

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