Oct 11 The maker of JCB diggers, one of the most
prominent businesses to back Britain leaving the European Union,
is leaving the Confederation of British Industry (CBI) lobby
group, which opposed the country's "Brexit" vote in a June 23
J C Bamford Excavators Ltd, one of the world's largest
makers of construction equipment, said on Tuesday it was
quitting the CBI, without giving a reason.
Sky News cited people familiar with the decision as saying
it was a result of the CBI's stance on Brexit. (bit.ly/2dr6hAu)
"It's always a shame to see any member leave the CBI, but we
recognise that businesses have competing priorities and we
respect that," a CBI spokesman said.
The CBI, which represents about 190,000 businesses, warned
in March that Brexit could cost the UK economy 100 billion
pounds ($124 billion) and 950,000 jobs by 2020.
JCB Chairman Anthony Bamford said in a letter to staff in
June that "JCB and the UK can prosper just as much outside the
EU, so there is very little to fear if we do choose to leave."
JCB employs around 12,000 people worldwide.
($1 = 0.80 pounds)
(Reporting by Mamidipudi Soumithri in Bengaluru; Editing by