Factbox: What commercial enterprise thinks about Britain’s ecu referendum

easyJet (EZJ.L) CEO Carolyn McCall:

we are able to do the whole thing we will to make certain that clients keep in mind that they’re a long way higher off within the eu in relation to connectivity and occasional fares.”

“We think it might be very hard for our authorities to barter with 27 different member states to get the flying rights that we’ve got today inside the european.”

Ryanair (RYA.I) CEO Michael O’Leary:

“The longer-time period impact although is we are able to invest much less in the ukwe can actuallyswitch a number of our current uk investment into different ecu countries because we need to hold tomake investments in the ecu Union and it is going to be terrible for air tour and British tourism.”


BMW’s (BMWG.DE) Director for sales and marketing Ian Robertson:

the United Kingdom has the most various vehicle industry in Europe and is the fourth-largestmarketplace of BMW institution worldwide. From an enterprise attitude we would therefore remorseseeing the United Kingdom depart the ecu.”

Jaguar Land Rover, Britain’s largest carmaker, estimates its annual profit may be reduce via 1 billion kilos($1.47 billion) by way of the cease of the decade if Britain leaves the eu Union, in step with sourcesfamiliar with the business enterprise‘s questioning.

it’s far inevitable that we might face increasing and higher tariffs, making our merchandise much lessaggressive in Europe,” CEO Ralph Speth wrote to people in a letter.

CEO of Opel (GM.N), owner of the Vauxhall emblem, Karl-Thomas Neumann:

we’ve got plants in Luton and Ellesmere Port. we can not turn our lower back on England. If Britons votedto leave the eu, life would keep on. we’d keep to find approaches to make investments.”

chief executive of Volkswagen-owned (VOWG_p.DE) British brand Bentley, Wolfgang Duerheimer:

“Volkswagen group has a hundred and ten places around the world where they produce automobiles.meaning they are not anyhow reliant on the United Kingdom so if the state of affairs modificationsdramatically, future choices need to be taken into consideration a few of the instances you face.”


Colm Kelleher, president of Morgan Stanley (MS.N):

“If Britain were to leave Europe you will see a substantial backlash in opposition to London as afinancial middle.”

Citi’s (C.N) uk head James Bardrick on what may want to occur submit-Brexit:

we’d need to operationally alternate the commercial enterprise and reallocate positive businesses backinto the eu. this is now not technically impossiblehowever highly steeply-priced and relativelyinefficient … and could suggest the dimensions of our activities right here will lessen.”

Mark Boleat, chairman of coverage and assets Committee on the town of London organization:

“If the United Kingdom votes to leave the european, there would be extreme outcomes for the city of London’s function as an international economic middle. we’d see ukprimarily based monetaryestablishments lose get entry to to the single market and some could remember relocating somewhere else in the euno longer in a single day but over the years.”

HSBC (HSBA.L) chairman Douglas Flint:

“Our personal economic studies may be very clear about the advantages of england being at the heartof a reformed eu. We consider that the United Kingdom would input a length of awesome monetaryuncertainty in the event of a vote to depart.”

JP Morgan (JPM.N) CEO Jamie Dimon:

“If the United Kingdom leaves the ecu, we may don’t have any choice but to reorganize our commercial enterprise model right here. Brexit should imply fewer JPMorgan jobs inside the united kingdom andmore jobs in Europe.”

strength, OIL AND gasoline

The chief government of oil large Royal Dutch Shell RDSa.L. Ben van Beurden was quoted as announcingby using The Sunday times newspaper:

we’re a company with a robust historical past within the uk and on the Continent. There might be aactual damage among the two, which could affect freedom of movement of staff, exchangewe mightbe impacted.

“There may be a route of divergence, and with a purpose to have all varieties of inefficiencies. it is now not top for corporations like ours that thrive by means of there being no barriers. that may be a essentialmonetary element of it.”

The chief executive of BP (BP.L) Bob Dudley told the BBC:

“Being outside the eu would be worse for the usa as among the policies could nevertheless practiceand Britain could be in threat of dropping have an impact on on the arena level.

“There are masses of technical tax motives, alternate flows, law, that might make it higher for ourenterprise and the strength business in standard, the oil and fuel enterprise, (if Britain) were part ofEurope.”

Former CEO of countrywide Grid (NG.L) Steve Holliday:

“We can’t find the money for to lose the get right of entry to to (eu) strength components and interconnection, regardless of the framework is finally. Being a part of the ecu strength market is certainly important for the UK.”

HOUSEBUILDERS AND estate sellers

Rob Perrins, coping with director of London-targeted housebuilder Berkeley (BKGH.L):

“My situation would be around inward funding into London and it’d gradual down the growth of jobs and its have an effect on.

“If it retained less have an impact on and much less jobs, it’ll grow much less fast so it would really need much less houses constructed.”

Mat Oakley, head of commercial research at actual estate organization Savills (SVS.L):

we have spoken to a number of people who have stated we will seriously take into account shiftingour headquarters features … and our boom over the medium term to long time may well be more skewed to the european … if the UK had been to leave.”


Airbus group (AIR.PA) leader executive Tom Enders:

“If Britain leaves, I cannot imagine that this would have wonderful outcomes for our competitiveness in Britain.”

Roger Carr, chairman of BAE systems (BAES.L):

i am a supporter of creating it (the eu) higher, greater aggressive and consequently searching for to enhance it, but I nevertheless believe you could do this more successfully as a member of the familyinside as opposed to as a critic out of doors.”

James Dyson, founding father of the vacuum cleanser institution Dyson:

we will create more wealth and greater jobs by means of being outside the ecu than we are able towithin it, and we are able to be in control of our destinywhile the ‘remaincampaign tells us nobodywill change with us if we leave the european, sorry, it’s absolute cobblers.”

JCB Chairman Anthony Bamford wrote to personnel in a letter published inside the instances:

the United Kingdom is a trading nation and the 5th biggest economy within the world. i’m veryassured that we can stand on our very own two toes. I trust that JCB and the United Kingdom can prosper just as a good deal out of doors the eu, so there may be little or no to worry if we do select to depart.”

Rolls-Royce (RR.L) CEO Warren East:

we’ve taken the public function that as a business enterprise Rolls-Royce believes our clients,suppliers and personnel enjoy the united kingdom‘s membership of the eu Union and that it is in thecompany‘s interests to stay a member.”


Andrew Witty, CEO of GlaxoSmithKline (GSK.L):

“From a in basic terms business, monetary attitude, my view very strongly is we are a whole lot higheroff inside the ecu Union than outdoor of it.

it’s very uncertain to me what precisely the rule set would be on the outside. I assume it runs thehazard of creating lengthy intervals of uncertainty and not using a obvious direction to a less difficultglobal than the only in which we perform.”


Steve Ingham, CEO of Michael page MPI.L:

i am involved approximately the disruption, as it causes uncertainty and uncertainty approach thathuman beings are unprepared to make decisions. it’s no longer excellent for a candidate consideringshifting job, and it’s not precise for a customer and that’s extra a difficulty.”

RETAIL AND amusement

Nick Varney CEO of Legoland-operator Merlin Entertainments (MERL.L):

“In our case we do not assume it will make any distinction as to whether or not we are in or we are out of the european.”

Primark-owner AB foods (ABF.L) CEO George Weston:

“The vital point … is that Brexit isn’t a first-rate risk to us one way or the alternativewe’ve got had an excellent examine the capability impact of both Brexit or not Brexit on AB foods and it is not very huge.”

Tim Martin chairman of JD Wetherspoon (JDW.L):

“Will the United Kingdom be better off out of the eu Union? Of direction. just take a look at what isgoing on now – the european is already doing away with democratic powers from member states… the majority will say ‘sure‘ to a commonplace market and unfastened exchange; ‘sure‘ to friendship and co-operation and ‘yes‘ to free motion of labor amongst countries which are in the ecu these dayshowever we can achieve those pursuits outdoor the european.”


Gavin Patterson, CEO of BT (BT.L), is quoted at the CBI website as announcing:

“We fee the way the eu has helped to open up markets, it’s been a genuine assist with regards to usoffering services out of doors the UKwe face regulatory battles beyond Europe, seeking to get adegree gambling area as we compete with remote places incumbents.”

Vittorio Colao, CEO of Vodafone (VOD.L), instructed BBC radio:

“We assume the virtual single marketplace is the subsequent massive opportunity for the economic system, in Europe in general and for Britain in particularit would be a high-quality overlookedopportunity if Britain turned into looking to sit down outside of it and now not shaping it from interior.”