In Japan for a G7 meeting, Finance Minister Bill Morneau said Canada would “put forward the view that Britain is stronger” in the EU.
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“That’s not a threat, but our relations won’t be like they are today”. “Many tech founders and investors are wary that London and the UK’s advantage could be eroded in the event of a vote to leave the European Union”.
“From the smallest gallery to the biggest blockbuster, many of us have worked on projects that would never have happened without vital European Union funding or by collaborating across borders”, they said.
“What price European Union leaders would exact is impossible to predict, but deterring other countries from breaking away – not to mention the opportunity to punish an old rival – will likely discourage them from looking sympathetically upon Britain”.
Sir, – As you note in your editorial “The Brexit debate – from hyperbole to hysteria” (May 19th), the economic arguments against Britain leaving are compelling.
Rejecting talk of a loss of sovereignty, Mr Bloomberg said: “We all live in an worldwide world, we all have agreements”.
“We clearly are concerned, collectively, at the risk of Brexit, and do believe that could potentially have some economic impacts”, Morneau said.
Access to different markets within the European Union and EU funding, as well as free movement of talent are among the main reasons to stay, according to the letter, which is filled with statistics.
“In services alone, one estimate is that by 2030 we can deliver up to 480,000 jobs which include up to 120,000 jobs across the technical professional, information and communication and fix and servicing sectors, all areas where Britain is strong and can sell directly into European markets”.
Signatories to the letter included senior executives and chairmen from companies including Airbus, Mars, Cisco, Hitachi, Ford, Caterpillar, IBM and Microsoft. A total of 61 percent of German companies running business in the United Kingdom said they would scale back their investment if British voters were to say “No” in the ballot, according to a survey released by the Association of German Chambers of Commerce and Industry.
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The US president said Britain would be at the “back of the queue” for any trade deal between the countries as American concentrates on securing an agreement over the Transatlantic Trade and Investment Partnership (TTIP) with the EU.
