JCB set to quit CBI due to its anti-Brexit stance

STAFFORDSHIRE excavator manufacturer JCB has quit the CBI – reportedly in a row over the organisation’s stance on Brexit.

The business body was an advocate of remaining within the EU – a stance which put it at odds with JCB chairman Lord Bamford, who firmly supported Brexit.

The manufacturer even wrote to his staff ahead of the referendum telling them why he was voting to leave the Single Market, saying the country had nothing to fear from standing on its own.

The parting of the ways looks likely to complete next summer when JCB is due to renew its subscription to the business organisation.

Both parties have confirmed the split but no reasons have been given as to why the decision has been made.

There had been early speculation on Sky News that the decision was down to the Staffordshire firm’s stance over Europe.

Unlike a lot of firms, JCB’s strong global presence means it is not solely reliant on Europe for its trade agreements.

It is strong in the emerging markets around the world and it is a leading advocate of other British firms following its example.

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