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Brexit hero Tim Martin debunks a stack of myths as JD Wetherspoon reports strong results

By Tom Winnifrith | Friday 14 September 2018

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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Note to prat Jamie Oliver. Insult 52% of us over Brexit and you lose custom and shutter your disgustingly overpriced outlets, tell the truth as Tim Martin of JD Wetherspoon (JDW) has and you might report cracking numbers as Tim has done (again) today. The great man has also debunked a stack of Brexit myths, noting:

“There will be a huge gain for business and consumers if the UK copies the free trade approach of countries like Singapore, Switzerland, New Zealand, Australia, Canada and Israel, by slashing protectionist EU import taxes ('tariffs'), on leaving the EU in March next year.

These invisible tariffs are charged on over 12,000 non-EU products, including rice, oranges, coffee, wine and children's clothes. The proceeds are collected by the UK taxman and sent to Brussels.

Ending tariffs will reduce shop and pub prices, improve living standards, and will help non-EU suppliers, currently discouraged by tariffs, quotas and the extensive paraphernalia of EU protectionism.

If parliament votes to end tariffs and rejects the 'Chequers Deal', consumers and business will benefit additionally by avoiding a cost of £39 billion, or £60 million per UK constituency, in respect of the EU 'divorce payment' - for which there is no legal obligation.

Parliament can also regain control of UK fishing waters, where 60% of the catch is currently taken by EU boats.

Unfortunately, some individuals, businesses and business organisations have mistakenly, or misleadingly, repeated the myth that food prices will rise without a 'deal' with the EU.

In fact, the only way prices can rise post-Brexit is if parliament votes to impose tariffs. The EU will have no say in the matter, provided that the government does not sign away the UK's rights in a 'deal' in the meantime.”

Spot on. Very much the same message that my grandfather, Sr John Winnifrith, the former senior civil servant at what the Department of Fisheries & Food put out when speaking for the losing side in the 1975 Referendum.


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