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Staying outside EU risks millions of jobs, warn 20 British businessmen
More than 3m British jobs will be put at risk unless Britain remains at the heart of Europe, a group of leading businessmen warn today.
In a letter to the Daily Telegraph, 20 businessmen say it is "imperative" that Britain has a place on the negotiating table when major decisions about Europe are taken.
Signatories including Sir Richard Branson, the Virgin tycoon, and Sir Mike Rake, the chairman of British Telecom, argue that the future of Europe is vital to Britain's economic interests.
Their intervention, which comes 10 days after David Cameron vetoed EU treaty reforms, will put pressure on the Prime Minister not to bow to the Conservative right and demand the re-patriation of further powers from Brussels.
The letter, which is also signed by Sir Martin Sorrell, chief executive of advertising group WPP, and Paul Marshall, chairman of hedge fund Marshall Wace, urges the Government to “re-engage in the decision making process in Europe”.
It says: “It is in Britain’s interest that the Euro survives and we therefore should do everything we can to ensure the necessary steps are taken to guarantee its viability.
“The EU’s single market, whilst not complete, is of great importance to the UK. It accounts for over half our trade, but we must deepen and widen it, and push for reform in services, telecoms, the digital arena and energy.”
The letter, which has been co-ordinated by lobby group Business for New Europe, suggests that dis-engaging from the EU could threaten British jobs..
The businessmen argue: “The Government estimates that three million British jobs rely on exports to our European partners.
"The EU’s institutions, from the Commission to the European Court of Justice, exist mainly to safeguard the single market’s level playing field.
“This narrative on the single market has to be the bedrock of our re-engagement with Europe. We are more likely to achieve this by remaining as closely involved as possible in the EU decision making process.”
Other signatories include Roland Rudd, chairman of Business for New Europe, former EU trade commissioner Lord Brittan, Lord Kerr, the deputy chairman of Royal Dutch Shell and Sir Stephen Wall, Tony Blair’s former Europe adviser.