JCB chairman backs 'Brexit'
The chairman of construction equipment manufacturer JCB has said that the UK does not need European Union membership to prosper.
Backing a 'Brexit', Lord Bamford told BBC Midlands: "We are the fifth or sixth largest economy in the world. We could exist on our own - peacefully and sensibly.”
He added that an exit from the EU would allow the UK to “negotiate as our country rather than being one of 28 nations.”
The comments come as JCB reported £303m of underlying earnings fro 2014, a dip from 2013's £313m, although Bamford remains positive that demand for infrastructure growth in the developing world will stimulate growth.
However, British Chamber of Commerce director general John Longworth highlighted that 55% if his members would favour a 'reformed Europe.'
"The 'reformed' part of it is quite important, and if you look at a lot of the economic reports [...] the in-out debate is more nuanced than a lot of people would have us believe," he said.