Tim Martin, the founder and chairman of JD Wetherspoon believes that Mark Carney, the Governor of the Bank of England (BOE) is “completely wrong” over the possible impact of a disorderly no-deal Brexit.
On Friday, Martin told CNBC’s “Squawk Box Europe” that he believed that the firm was “trundling along nicely.” His remarks come shortly after he reported that the full-year profits of his firm had rose by 16.5 percent.
However, he added this was in spite of the ongoing uncertainty over the Brexit discussions between the European Union and the United Kingdom.
Martin stated: “There is a lot of smokescreens and there is a lot of people who don’t know what they are talking about. We believe the country would be better off with no deal because it is a protectionist system — so why not say it?”
Major companies in the United Kingdom have urged the British government to remain in a customs union with the European Union after Brexit. They warned regarding the risk of extra charges and border delays once they are outside the common external tariff area.
Martin campaigned for the United Kingdom to leave the European Union. He believes that a no-deal Brexit would be in the best interests of Britain.
When asked regarding the reported comments of Carney that a no-deal Brexit could result in economic chaos, Martin answered: “I think Mark Carney has got it completely wrong, he has got a terrible record for making these sort of predictions.”
The Guardian newspaper reported that the Carney also said that the effect of a no-deal Brexit could be as catastrophic as the global financial crisis that was experienced in 2008.
Officials in both the European Union and the United Kingdom are currently setting out plans in the event that the United Kingdom leaves the European Union on the 29 of March 2019 without a deal, with many firms fearing that such a scenario could result in a major disruption to the movement of people and goods.