Douglas Carswell

24 MAY 2016

Business isn't buying Brexpocalypse

'British Big Business wants to stay in the EU,' briefs the Downing Street spin machine. Slight snag: the latest survey of FTSE 350 companies shows the opposite.

ICSA's new poll records a big drop in support for the EU. In their last poll in December, 61% of businesses said the EU positively impacted their business. Now that's fallen to 37%.

Barely half of boardrooms have even considered the impact of Brexit on their business, while only 43% see any downside risk. In fact, of all the things boardrooms are worried about, political risk is bottom of the list.

The survey shows up the Downing Street scare stories for the sham they are. If Britain's corporate captains don't believe in George Osborne's Brexpocalypse, why should anyone else?

Perhaps the most interesting finding in the poll, though, is that the top governance issue for businesses is over-regulation and pointless compliance. In that light, is it any wonder they're not the biggest fans of the European Commission?

The EU's trigger-happy approach to regulation (see Brexit the Movie) is holding our economy back. Open Europe estimates that it costs British business £600 million a week.

For most British companies, there's not even any benefit attached. Only 6% of British businesses export to the EU. There's no reason why the other 94% needs to be tied up in EU red tape.

Our economic growth depends on a dynamic private sector. We should be taking down the barriers to creativity, entrepreneurship, and trade that are stifling our businesses. As EU members, we can't do that.

To set our companies free from EU regulation, we need to set our country free. British business will boom if we vote Leave and take back control.

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