Brexit Pub Boss Bashes Remain Rivals Over Campaign

One of the few top bosses to actively campaign for a UK Brexit vote has slammed economists and others over their support for Remain.

JD Wetherspoon chairman Tim Martin took aim at rivals in his commentary for the pub chain's annual results, which showed growth in sales and profits in the year to 24 July.

Much of his criticism of the Remain argument was directed at economists.

He said: "The overwhelming economic evidence is that successful countries are democracies," adding that "economists really do need to stick that point in their pipes and smoke it."

Mr Martin, who actively campaigned for a Leave vote with events at the chain's pubs, said prosperity and freedom were key components of democracy and help drive economic growth in the future.

He described as "scare story 2" the notion that a failure to secure a trade deal with the EU would have devastating consequences, arguing the UK could be successful trading under World Trade Organisation rules.

Wetherspoon's reported 3.4% growth in like-for-like sales over its last financial year, with pre-tax profit rising 13% to £66m.

Mr Martin said business accelerated during August - not covered by the annual figures.

"Since the year end, Wetherspoon's sales have continued to be encouraging and increased by 4.1%.

"Despite this positive start, it remains to be seen whether this will continue over the remainder of the year, given the strong like-for-like sales in the last financial year and what remains a very low-inflation environment.

"We will provide updates as we progress through the year, but we currently anticipate a slightly improved trading outcome for the current financial year, compared with our expectations at the pre-close stage."

He issued the forecast depsite reporting pressure on jobs in the industry as a result of paying the National Living Wage.

Mr Martin said: "By pushing up the cost of wages by a large factor, the Government is inevitably putting financial pressure on pubs, many of which have already closed."

Wetherspoon's shares were up 5% in early trading on Friday.