Sunday, 7 February 2016

Big business is overwhelmingly pro-EU

YouGov recently ran a poll of business leaders' stance on the European Union. Interestingly, and consistent with previous findings, there was a huge gap between small business and big business. Among, SMEs, 42% answered "leave" and 47% answered "remain". By contrast, among FTSE companies, only 7% answered "leave" while 93% answered "remain". 

One interpretation of these results is that leaving the EU would be bad for Britain's largest businesses, and would therefore be deleterious to the economy as a whole––large businesses, though small in number, account for a disproportionate share of both output and employment. Another interpretation, however, is that large businesses tend to support the EU because they can use it to gain special privileges at the expense of their competition. 

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