Unilever bosses warn of negative impact of Brexit

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Past and current bosses of Unilever have voiced their support for the UK remaining in the EU ahead of the referendum on 23 June.

Paul Polman, Unilever chief executive, said that the consumer giant, which is one of the oldest multinational companies in the world, would be "negatively impacted" if the UK voted to leave the EU.

“We therefore hope that in the interests of Unilever, the UK, Europe, and indeed the wider global economy, the UK will choose to remain and thereby continue to play a central role in Unilever's long-term growth and prosperity,” Mr Polman and his three predecessors said in a letter sent on Thursday to some 100,000 UK employees and pensioners of the company.

Unilever owns over 400 brands, among them Dove, Flora, Hellmann's, Knorr, Lipton, Magnum and Surf and is based in the Netherlands and the UK.

Mr Pollman, who is Dutch, signed the letter alongside Patrick Cescau, who is French; Niall FitzGerald, Irish; and Michael Parry, British. Collectively, the four chief executives have run the company for 24 years.

“We feel a responsibility to point out that Unilever in the UK, with its thriving operating company, international research centres, factories and global headquarters would, in our considered opinion, be negatively impacted if the UK were to leave the European Union,” they added.

The Bank of England also warned of the negative impact of Brexit in a note alongside the news that it was keeping interest rates steady at 0.5 per cent.

It said that recent market behaviour showed that if the UK voted to leave the EU, the value of the pound would fall further, “perhaps sharply”, while households would delay spending causing lower demand and rising unemployment.

The Bank of England also said that polls showing the Leave campaign had gained ground were negatively affecting the value of the pound and UK stocks.

The FTSE fell to its lowest point since February on Thursday after a poll by the Evening Standard showed that most Britons do want to leave the EU.

It recovered from lows of 5,911, not seen since February 17, to close at 5,950, 0.27 per cent down on the previous day.

The EU referendum debate has so far been characterised by bias, distortion and exaggeration. So until 23 June we we’re running a series of question and answer features that explain the most important issues in a detailed, dispassionate way to help inform your decision.

What is Brexit and why are we having an EU referendum?

Will we gain or lose rights by leaving the European Union?

What will happen to immigration if there's Brexit?

Will Brexit make the UK more or less safe?

Will the UK benefit from being released from EU laws?

Will leaving the EU save taxpayers money and mean more money for the NHS?

What will Brexit do to UK trade?

How Brexit will affect British tourism

What will Brexit mean for British tourists booking holidays in the EU?

Will Brexit help or damage the environment?

Will Brexit mean that Europeans have to leave the UK?

What will Brexit mean for British expats?