The former CEO of HSBC, Michael Geoghegan, joined a chorus of 250 business leaders who think Brexit is a good idea.
The current and former CEOs of HSBC do not see eye-to-eye in this debate.
Back in January, the current CEO, Douglas Flint, threatened to move 1,000 investment jobs to Paris if the UK were to leave the EU.
It appears Flint has not thought through the ramifications of a financial transaction tax that will be crammed down his throat (among other things) shortly after the UK elects to stay in.
Meanwhile, a YouGov poll of over 1,000 small and medium sized enterprise (SMEs) shows a mere 14% percent believe the EU market makes things easier for them.
Bloomberg reports Campaign Backing U.K. Exit From EU Adds 250 Business Executives.
Former HSBC Holdings Plc Chief Executive Officer Michael Geoghegan is among 250 business leaders backing the push for the U.K. to leave the European Union.
“With our growing list of business supporters, Vote Leave will make that case that whilst the EU may be good for big multinationals, for smaller businesses it acts as a job destruction regulatory machine,” said Matthew Elliott, CEO of the group. “Jobs, wages and the economy will thrive when we take back control.”
Vote Leave also released a YouGov poll of over 1,000 small and medium-sized enterprises that showed just 14 percent believe the EU makes it easier for their business to employ people.
Project Fear
In-crowd fear mongering has picked up steam. Prime minister David Cameron and the Bank of England are both in on it.
Some label it “Project Fear“.
Project Fear — the massive PR campaign aimed at sowing and watering the seeds of dread about the potential consequences of a YES vote in the upcoming referendum on a British exit from the EU — is in full bloom. In the event of a wrong answer, all manner of biblical disasters can be expected to befall the nation, the British public is constantly being warned.
The country’s national income will shrink, hundreds of thousands if not millions of jobs will vanish, the City of London’s core industry — financial engineering — will migrate across the channel, the currency will collapse, house prices will plummet, European firms will stop selling products to Brits, the U.S. government will impose massive tariffs on British imports, and even Britain’s already dismal climate will get worse.
Project Fear’s shrillest shills include the British government and institutions of State, the UK’s most powerful business lobby group The Confederation of British Industry, the City of London Corporation (and all the too-big-to-fail financial institutions whose interests it faithfully serves), the European Union, the International Monetary Fund, and the world’s biggest fund manager BlackRock.
Another prominent prophet of Brexit doom and gloom is the Bank of England, an institution that, according to its charter at least, is supposed to be “independent” from national politics, but which has done nothing but feed the fear.
