Money

Pubs boss launches broadside at 'elite' remainers



 JD Wetherspoon chairman Tim Martin, a high profile Brexiteer, has attacked “elite remainers” for claiming that UK economy will suffer from leaving the EU.

His comments came as his pubs group reported like-for-like sales in the year to 28 July jumped 6.8% although factors including rising costs saw a 4.5% fall in underlying pre-tax profits to £102.5 million.

 

The group, behind Scottish pubs including The Caley Picture House and the Standing Order in Edinburgh and The Counting House  and The Sir John Moore in Glasgow. said sales had continued to perform well since the year end, with comparable sales up 5.9% in the six weeks to 8 September .

“Despite continuing political problems, stemming from the transfer of democratic power to a technocratic elite, Wetherspoon continues to perform well,” it said.

Martin used the results as a platform to reiterate his belief that the UK  economy will be stronger outside Europe. “It is an absurdity to argue that a reduction in UK input costs, combined with increased democracy, will have a harmful effect on the economy – just as it would be absurd for a business to adopt this argument if its own costs were reduced,” he said.

 

“Free trade, which the ending of tariffs implies, never made any country poorer. Elite Remainers are ignoring the ‘big picture’, regarding lower input costs and more democracy, and are mistakenly concentrating on assumed short-term problems, such as potential delays at Channel ports – which are easier to extrapolate on their computer models.”



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