The pub boss accused the Confederation of British Industry (CBI) and the British Retail Consortium (BRC) of “trying to fool the public”.
Mr Martin said he believes that food prices will be reduced after the UK’s divorce with the European Union.
This comes as BRC’s chief executive Helen Dickinson warned that Britain’s food prices will increase after Brexit if the UK is not able to secure trade deals like the ones the European Union has negotiated.
The BRC claimed the tariff on clothing from Turkey could rise from zero to 12 percent, while duties on fish from Iceland could go from 3.4 percent to 11 percent.
He claimed prices will be lower after leaving the EU without a deal in March 2019 if the UK has free trade as there won’t be any more tariffs on food imports from outside the bloc.
The boss of the pub giant said: “By refusing to acknowledge the fact that food prices will be reduced post-Brexit, if the UK leaves the EU without a deal and parliament votes to eliminate taxes which are currently imposed on non-EY food imports, the CBI and the BRC are trying to fool the public and MPs and rising business into disrepute”.
Wetherspoons saw its market value hit an all time high on Wednesday after reporting strong growth in sales.
Mr Martin said: “These factually incorrect scare stories seem to be designed to convince the public that a deal is necessary to avoid a cliff edge
“In fact, the cliff edge is a myth.
“There is almost no action needed, for most companies, if the UK leaves the EU without a deal.”
As part of its update, JD Wetherspoon said it had opened three new pubs but sold off 10, with plans underway to open approximately 10 new pubs by the end of the financial year.
He said that Parliament should take steps, including getting rid of food taxes so the public is able to benefit from lower food prices.