‘No Doubt’ Leaving EU Would Hurt U.K. Economy, BT Chairman Says
Prepare for a Shock if Britain Leaves EU, Warns Rake
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There is “absolutely no doubt” that leaving the European Union would damage the U.K. economy, BT Group Plc Chairman Michael Rake said, in some of the most outspoken comments about the referendum on EU membership by a British business leader.
Rake said uncertainty about the outcome was holding back investment and hiring ahead of the June 23 vote. “That’s just a foretaste of what will happen,” Rake said on Bloomberg Television. “There will be a shock.”