Wetherspoons loves Brexit

The group recently secured planning permission for a 'super pub' on Dublin's Camden St...

Wetherspoons loves Brexit

The Three Tun Tavern, Facebook

Wetherspoon financial statements have been raising eyebrows over the past year.

Not because of sales figures or balance sheet details - rather the focus has been on the political musings of its chairman, Tim Martin.

Today the company announced a 4% increase in its like-for-like sales in the 13 weeks ending on April 23rd.

Pub talk

Mr Matin commented that he believes that prominent British business organisations are damaging the UK's bargaining position as formal Brexit talks begin:

"A number of individuals and organisations, which previously supported UK membership of the euro and its disastrous predecessor the ERM (European Exchange Rate Mechanism which sought to limit exchange rate volatility in the Union), and who recently promoted the erroneous view of a severe economic downturn in the immediate aftermath of a leave vote in the referendum, are again offering the government advice," he said in the statement's 'Outlook' section.

"For example, Carolyn Fairbairn of the CBI (The Confederation of British Industry) has recently said that ‘leaving the negotiating table without a deal shouldn't be Plan B, but Plan Z'. It is doubtful if Ms Fairbairn has ever been involved in serious business negotiations herself, since this is the same as a house buyer saying to a seller, 'I must have your house at any cost'. In this case the buyer will not pay the market price, but will pay the maximum that the seller believes he can afford," he added.

Mr Martin concluded that, "The current desperation of the CBI and others for a 'deal' is only encouraging the absurd posturing of the unelected 'President' Juncker and his acolytes, and creates an absurdly pessimistic picture of the UK's position if a sensible deal is not forthcoming."

He believes that British industry should highlight the impact that UK businesses trading with other regions (rather than EU states) will have on companies across the continent if harsh terms are imposed on the UK.

Ahead of last year's vote, the pub chain put beer mats with pro-Leave messages in bars across Britain.

The businessman has described "an absence of democracy" as the EU's central flaw.

Wetherspoons was recently granted planning permission to build a super pub on Dublin's Camden St.

It will invest €4m in the project, which will include a 98-bedroom hotel.

The company currently operates five pubs in the Republic of Ireland.