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UK business leaders call for 'people's vote' on Brexit deal

More than 70 business leaders have signed a letter demanding a “people’s vote” on the final Brexit deal negotiated by UK Prime Minister Theresa May.

In the letter to the Sunday Times newspaper they warn of the economic harm that would follow “either a blindfold or destructive Brexit”, ahead of the launch on Thursday of a new campaign group, Business for a People’s Vote.

It has been signed by John Nelson, former chairman of Lloyd’s of London, Lord Myners, the former chairman of Marks and Spencer, Martha Lane Fox, Lastminute.com founder, and Richard Reed, the co-founder of Innocent Drinks. James Daunt, chief executive of Waterstones and Justin King, former chief executive of Sainsbury’s, also signed the letter.

“The business community was promised that, if the country voted to leave, there would continue to be frictionless trade with the EU and the certainty about future relations that we need to invest for the long term,” the letter said.

“Despite the prime minister’s best efforts, the proposals being discussed by the government and the European Commission fall far short of this, and they are not nearly as good as the current deal we have inside the EU. The uncertainty over the past two years has already led to a slump in investment, which will make our country poorer.”

“We are now facing either a blindfold or a destructive hard Brexit. Given that neither was on the ballot in 2016, we believe the ultimate choice should be handed back to the public with a people’s vote.”

It comes after hundreds of thousands of people marched through central London last month to demand a new referendum on the UK’s membership of the EU. Organisers of the people’s vote march said 700,000 people attended the demonstration. The letter was co-ordinated by the campaign group.

Mrs May’s government has ruled out a second referendum on membership, saying it would be an undemocratic denial of the result of the June 2016 Brexit referendum, which voted 52-48 in favour of leaving.

The main opposition Labour party also officially remains opposed, although Keir Starmer, shadow Brexit secretary, last month said the party had not ruled out supporting a new vote.

Lord Myners, the former City minister and a signatory of the letter, said: “Any deal will be made from a position of weakness where we have surrendered our principal negotiating cards. It will be half-formed, casting a long shadow over business confidence, damaging investment and hurting both enterprises and their employees for years to come.”

A Downing Street official said: “The prime minister has been clear — no second referendum.

“We had a people’s vote — it was in June 2016.”

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