FORMER Liberal Democrat leader Menzies Campbell yesterday claimed a fall in the pound’s value would jeopardise Oxfordshire jobs in manufacturing.

During a visit to Witney ahead of Thursday’s by-election, Lord Campbell said the Conservative Government’s approach to the UK’s future exit from the European Union had weakened sterling.

His comments came as a split among top Government ministers was reported, with Chancellor Philip Hammond said to be urging caution to protect the economy.

The possible impact of Britain’s exit from the European Union has been one of the central issues of the by-election campaign, with candidates clashing over the issue at two hustings events.

Lord Campbell said the current situation would be ‘extremely worrying’ for high-tech organisations, such as Renault’s Formula 1 team based in Enstone, who needed to import parts from the EU.

He said: “The last thing one would want is for these kinds of operations to be moved elsewhere simply because the pound is not sufficiently strong.

“About 70 per cent of parts and components are manufactured in the EU and so the falling pound is obviously going to affect businesses here.

“The uncertainty could put at risk jobs in any industries that rely on imports.”

Tory candidate Robert Courts said this afternoon: "If elected, I will be a strong local voice in Parliament to ensure the Brexit deal we get is right for the people of Witney and West Oxfordshire."

During his visit to Witney, Lord Campbell took part in a 'race' with candidate Liz Leffman, with one travelling by car and the other on a bus, to highlight how residents are 'marooned' by the lack of bus services.