Become a Member
  • Track your favourite stocks
  • Create & monitor portfolios
  • Daily portfolio value
Sign Up
Quickpicks
Add shares to your
quickpicks to
display them here!

'Remain' Case Undermines British Public, Says Wetherspoons Chairman

17th May 2016 11:31

LONDON (Alliance News) - Arguments for why the UK should stay in the European Union undermine the intelligence of the British public, according to JD Wetherspoon PLC Chairman Tim Martin.

The founder of the Wetherspoon pub chain has publicly made known his strong opinion that the UK should leave the EU, and in his latest statement on the subject has criticised Prime Minister David Cameron and Chancellor of the Exchequer George Osborne for 'Remain' arguments which he says undermine the intelligence of the British public.

While Cameron, Osborne and the other leaders in the Remain camp have constantly warned on the negative financial implications leaving the EU would have on the UK's economy, Martin argued that, judging by past events in the UK's history, there would be little economic difference either way, criticising the Remain campaigners for scaremongering the British public.

"We now read gory headlines from politicians forecasting the end of civilisation as we know it, as well as a plague of locusts, if Brexit occurs," Martin said, which shows "contempt for the intelligence of the public", he added.

The chairman also brushed off the UK treasury's statement that the average family will be about GBP4,000 a year worse off by 2030 if we leave the EU as "complete and utter fiction".

Instead, Martin argued that the EU is "fundamentally undemocratic", given that the member countries' laws cannot override the judgements of the European Court.

He also criticised US President Barack Obama for fighting for the Remain case, and hit back at the president's statement that the UK would go to the "back of the queue" in negotiating a trade agreement with the US in the event of Brexit.

"No serious American, including Obama, would consider reducing democracy by handing over their powers to an undemocratic international organisation, which is what Obama is advocating for the UK," Martin said, adding that failing to secure a trade agreement with the US, and also the EU, would not actually have much of an effect on trading.

"At Wetherspoon, we know from our own experience that trade is worldwide and agreements with the EU are of limited value," he said.

According to the chairman, Wetherspoon buys 95% of its wine from South America, Africa, Australia and New Zealand, despite the EU having some of the biggest wine producers in the world, as it has been unable to reach deals with countries such as France, Italy and Spain which match the quality and price.

"The public is far more intelligent than any narrow group of politicians and businessmen," Martin said.

"By regaining democracy and power over our own future, we can make our own laws in this country and elect and dismiss our political representatives ? while retaining good relations with our good friends in Europe and the world. Continuing to give away power to the unelected elite in Brussels is a dangerous and unpredictable path," he concluded.

By Karolina Kaminska; [email protected] @KarolinaAllNews

Copyright 2016 Alliance News Limited. All Rights Reserved.


Related Shares:

Wetherspoon (J.D)
FTSE 100 Latest
Value8,809.74
Change53.53