Courtesy navigation

News

May 01, 2015

No exit but EU reform vital say businesses

No exit but EU reform vital say businessesBritish businesses want the UK to remain in the EU but they are calling on the next Government to make EU reform a top priority.

These are the findings of the British Chamber of Commerce (BCC) annual EU Barometer survey.

In what the BCC describes as "the largest private sector business survey on the issue of the UK's relationship in Europe", 55% of bosses said the most positive outcome for their business would be to operate in a reformed EU.

In addition, 63% of firms said withdrawing from the EU would have a negative impact on their business. Just 12% viewed an EU exit as positive.

However, 38% of businesses said that further integration with Europe would have a negative impact on their business; compared to 24% who said this would be positive. The prospect of no change at all was viewed negatively by 36% and positively by only 11%.

John Longworth, BCC director general, said: "Whoever forms the next Government must put EU reform at the top of the agenda".

He warned: "The harsh reality is that most politicians and business leaders are unaware of what is happening in Brussels and politicians of all parties are yet to provide a vision of what EU reform means in practice. The completion of the single market is moving forward at a snail's pace with a risk of unravelling, the Eurozone is consolidating and the European Central Bank has taken on a more prominent role. These are all challenging developments.

"If this continues we run the risk of being a member of a club where all the decisions are made by, and for, the Eurozone. We must establish our relationship as a country that is part of the EU, but not part of the monetary union and ensure we have clear safeguards in place to protect ourselves against unwanted further integration."

Also this week, a smaller poll conducted by recruitment firm Alexander Daniels found overwhelming support for the UK's continued membership of the EU. Backing up the findings of the BCC survey, 69% supported a re-negotiation of the terms of EU membership.

More on this topic: