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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.

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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

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