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NEWS24 June 2016

Sorrell: Britain outside the EU will not grow as fast as inside EU

Brexit Financials News UK

UK – WPP’s CEO Martin Sorrell said that the UK voting to come out of the EU, combined with the resignation of the prime minister, will lead to uncertainty which is bad for business.

Speaking on the BBC Radio 4’s Today programme, Sorrell said: "The big issue is uncertainty...and the next uncertainty is the resignation of the prime minister. Uncertainty is the enemy of growth.

"Investment decisions will be delayed and day-to-day decisions will be delayed.  It’s a real reason for not taking risks and business is about making calculated risks, so this ads to the short-termism."

He added that "Britain outside of the EU will not grow as fast as Britain inside the EU. It’s important to focus on strategy at uncertain times and that’s very difficult to do."

Sorrell also pointed out that as a business, WPP had "taken all the protections" and that "90% of our revenue and profits is from outside the UK".

@RESEARCH LIVE

1 Comment

3 years ago

Mr. Sorrell was wrong on Brexit and continues to be wrong. It's his right to keep talking but we should stop listening.

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