JCB has reportedly left the Confederation of British Industry (CBI) organisation due to its position over the UK leaving the European Union.

According to reports, the industry equipment supplier was unhappy over the lobbying group's stance on Brexit and its response to the referendum's outcome.

JCB's Chairman, Lord Bamford, had written to some 6,500 UK staff in support of the Brexit campaign before the vote.

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In his letter, he said: "The UK is the world's fifth largest economy in the world. I am very confident we can stand on our own two feet. I believe that JCB and the UK can prosper just as much outside the EU, so there is very little to fear if we do choose to leave".

However, the CBI warned that leaving the EU would cause a "serious shock" to the economy, costing £100 billion and 950,000 jobs by 2020.

A spokesperson for JCB said: "I can confirm that JCB is ending its membership of the CBI."

A CBI spokesperson said: "It's always a shame to see any member leave the CBI, but we recognise that businesses have competing priorities and we respect that."

(LM/MH)