Brexit Rolls-Royce says Brexit will heighten investment risk

Brexit would "limit any company's ability to plan and budget for the future," the firm said.

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

Engineering giant Rolls Royce has written to employees saying it wants the UK to stay in the European Union.

Brexit would "limit any company's ability to plan and budget for the future," the firm said.

Meanwhile, the CBI has said a vote to Leave would "put British businesses out in the cold".

But Leave campaigners said the CBI does not represent British business and is "the voice of Brussels".

Rolls-Royce chief executive Warren East said Brexit would give the aero-engine maker's big American rivals a competitive advantage.

'Hollow threats'

He told the Today programme's Dominic O'Connell that a planned £65m new engine testbed facility was a "good example" of an investment that could be put at risk.

"It's all about uncertainty and our position in Europe.

"We have a very interconnected operation around Europe... We're making investment decisions all the time about where to place various parts of our operation... and uncertainty created by Brexit puts a lot of those decisions on hold, and that pause is something that our US competitors don't have to cope with," Mr East said.


Credit: BBC

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email:

Recommended Articles

Recommended Videos

Top Articles

1 Bauxite Mining Residents walk from E/R to Flagstaff House to petition...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Illegal Mining 14-year-old among 10 arrested for 'galamsey' at Gomoa...bullet
4 2018 World Happiness Report Somalia is a happier place to live...bullet
5 Corruption George Loh accuse MMDCEs, top assembly staff of...bullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Tax Relief? Gov’t secretly replaces 1% tax relief with other...bullet
8 MoMo Ghanaians to make int’l payments with mobile money as...bullet
9 Menzgold Ghana Investment company closes down its Gold...bullet
10 Nepotism In Ghana NLA boss awards sister-in-law 11...bullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Forbes 2018 Africa's billionaires rich listbullet
3 Money Alert Meet Africa's richest womanbullet
4 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
5 Support Finance minister buys Kantanka carbullet
6 New Phone Nokia’s MWC 2018 event in 7 minutesbullet
7 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
8 Tech 6 reasons you should buy an iPhone SE instead of any...bullet
9 Bozoma Saint John 10 quotes from Uber top official,...bullet
10 Video We are determined to move Ghana beyond aid - Bawumiabullet