Hammond slams 'irresponsible' Brexit businesses & insists UK will open door for EU workers
PHILIP HAMMOND has laid into Britain’s “irresponsible” big businesses for NOT listening to its consumers, as he pledged to keep the door open for EU workers in the wake of the momentous Brexit vote.
Phillip Hammond has slammed British businesses
The Chancellor blasted the nation’s top firms for “irresponsible” management, which has led to big bosses taking home eye-watering sums and a decline in workers’ rights.
He said “demonstrations of popular sentiment", such as Britain’s decision to break away from the European Union (EU), showed the UK would no longer accept “irresponsible” business practices.
Mr Hammond’s warning comes as he also rejected “hard Brexit” calls to end freedom of movement for EU workers, insisting tougher immigration controls could not lead to the British economy “suffering”.
In his first interview since becoming Chancellor, he warned of a huge crack down on executive pay and plans to force firms to put workers on boards.
Theresa May will outline new plans for workers
Business needs to understand in the wider context it isn’t sustainable to have large household brand name businesses angering their consumers
He said: “Business needs to understand – and I think business does understand - in the wider context it isn’t sustainable to have large household brand name businesses angering their consumers.
“Their consumers, our voters, must be important to them and their reputation. Their image with their consumers must be important to them.”
He told The Telegraph: “I think recognising the mood music that we see in the UK from the referendum, many European countries in all sorts of demonstrations of popular sentiment, in the US with the phenomenon of the Trump campaign –I think business needs to respond to that in a measured and sensible way.”
Mr Hammond’s remarks comes as Prime Minister Theresa May launched a review of workers’ rights in plans to introduce new laws, which will protect self-employed and temporary workers.
The Chancellor made it clear EU workers will not be shut out of the UK
Mrs May has vowed to ensure work practices are “keeping pace with the changing world of work”.
The Chancellor was also quick to make it clear that EU workers would not be “shut out” of Britain in the wake of the Leave vote.
Brexiteers have been pushing for limited immigration from Europe as it breaks away from the Brussels club.
Britain voted to leave the EU on June 23
Phillip Hammond grilled on lack of contingency planning for Brexit
Senior Tory members have drawn up a Brexit blueprint on how to exit swiftly while leaving the single market in order to ensure the UK has full control of its borders.
But Mr Hammond said: “[Voters] will expect us to negotiate a solution which delivers the key elements of leaving the European Union - regaining our sovereignty, getting control over our borders – but they will expect us to do all of that in a way that allows the UK economy to go on growing.”