Rocester-based excavator manufacturer JCB has decided to leave the CBI, reportedly because of the organisation’s stance on Brexit. The business group advocated remaining in the EU, whereas JCB chairman Lord Bamford “firmly supported” the Leave campaign.

He told his staff before the referendum why he favoured leaving the EU, saying the UK had “nothing to fear from standing on its own”.

The parting of the ways looks likely to go ahead next summer, when JCB is due to renew its subscription. Both parties have confirmed the split.