A day after taking up his role as CEO of Ladbrokes, Jim Mullen has issued a strongly worded statement distancing the bookmaker from the letter published in Wednesday’s Daily Telegraph, in which 100 business leaders - including his predecessor Richard Glynn - publicly backed the Conservative party’s record on the economy.

Daily Telegraph, Wednesday April 1

In full, Mullen’s statement read: "You may have seen our ex-CEO joined business leaders in signing a letter in the Daily Telegraph yesterday. He like all voters is entitled to his view.

"However, I want to make it clear that our business is to take bets on the general election, not to tell people how to vote. There are many shades of political opinion in our workforce of 15,000, never mind ex-employees or our customer base of millions of people.

It concluded: "My vote is worth the same as theirs and their choice of vote is their business. So I won't be signing any letters in this, or any other general election, that seek to tell people how to vote.”

Glynn’s name appeared alongside 102 others on the front page of yesterday’s Telegraph, under the heading: “Labour threatens Britain’s recovery."