IoD is right that small and medium sized businesses would be badly hit by EU exit
“Our prosperity depends on being at the heart of a dynamic, reforming European Union.”
– Lucy Thomas, Campaign Director of Business for New Europe
It is right that small and medium sized businesses would be hard hit by UK leaving the EU, says Business for New Europe, the business group making the positive economic case for Britain’s EU membership.
BNE welcomed comments made by both the Institute of Directors and the CEO of Alliance Boots about the risk of leaving the EU.
Simon Walker, the Director-General of the Institute of Directors, said that a UK exit would be “a tragedy, particularly for small and medium-sized businesses.” Stefano Pessina, the Executive Chairman of Alliance Boots, said that: “it would be a big mistake for the UK to leave Europe, because the economy will suffer a lot and Europe is by far the most important commercial partner for the UK.”
Lucy Thomas, Campaign Director of Business for New Europe, said:
“Politicians of all parties must listen to the wave of concern from British business about the possibility that we might leave the EU. Mr Walker is absolutely right to mention the risk to small businesses; according to the British Chambers of Commerce, 88% of small businesses that export do so to the EU. The harmonisation of product standards across the EU makes it much simpler for small businesses to export.
“The free movement of capital is also vital. Britain is the second-largest beneficiary of foreign direct investment on Earth, and 46% of that comes from the EU. By leaving, we put at risk a huge source of jobs and growth in this country.
“Mr Pessina said that he trusted the ‘common sense’ of the British people to keep us in the EU. Business agrees. Our prosperity depends on being at the heart of a dynamic, reforming European Union, not cutting ourselves off from our closest partners.”
Eurosceptic rhetoric is damaging small business
“This report should be a wake-up call to all those flirting with the idea of British exit from the EU.”
– Lucy Thomas, Campaign Director of Business for New Europe
Uncertainty over Britain's future EU membership is having a detrimental impact on small business, according to a new survey. This should act as a warning to those flirting with a UK exit says Business for New Europe, the business group that makes the positive economic case for Britain's EU membership. The Forum of Private Business polled 4,000 small business owners.
The survey found that only 9% of small businesses were planning to start exporting or increase their export efforts, compared to 15% last year. The FPB was in no doubt that uncertainty over Britain’s membership of the EU was to blame, saying: “There is a fear that anti-EU rhetoric and the doubt over the UK’s future is already making it hard for some UK businesses in Europe.”
Business for New Europe Campaign Director Lucy Thomas said:
“This report should be a wake-up call to all those flirting with the idea of British exit from the EU. It is a fact that our small businesses are being damaged by the fear that we may leave the EU.
“SMEs are the backbone of the economy, responsible for 48% of private sector jobs in this country. Politicians must wake up and listen to our small business champions, and stop making their lives harder with wild rhetoric about quitting our largest market. Those who claim to speak for British business should heed what they say, and focus on staying in a reformed European Union.”
Compromise in Greece crucial for European stability
“The EU must respect Greek voters, but Syriza must compromise too.”
– Roland Rudd, Chairman of Business for New Europe
Both sides must show compromise in forthcoming negotiations on Greek austerity, say business leaders. Pro-European business campaign, Business for New Europe, says that the future stability of the Eurozone rests on the willingness of both the newly-elected Syriza government and the so-called Troika of EU, IMF and ECB, to make things work.
The winning anti-austerity party made a series of spending pledges during the election campaign, such as a rise in the minimum wage, re-hiring public sector workers and the reinstatement of higher pensions.
Roland Rudd, the Chairman of the Business for New Europe, said:
“These election results mark a test for both the newly-elected Greek government and the EU. It is crucial that there is mutual respect during negotiations: the EU, ECB and IMF must respect the Greek voters, but Syriza must compromise too. After all, three quarters of Greek people want to remain in the Euro, so the government will have to do what is necessary to make that happen.”
EU membership is vital to UK financial services
"Goldman Sachs is just one example of of over 250 foreign banks based in London who rely on our EU membership"
- Lucy Thomas, Campaign Director of Business for New Europe
Britain's financial services sector would be drastically weakened were it to leave the EU, say pro-European business group, Business for New Europe. Goldman Sachs President, Gary Cohn, told the BBC that EU membership was vital to ensure that London remains the 'financial capital of the world'.
Lucy Thomas, campaign director of Business for New Europe, said:
"Goldman Sachs is just one example of over 250 foreign banks based in London who rely on our EU membership. If they didn't have access to trade across the EU, they simply wouldn't stay here.
"We already hear of foreign banks looking for alternative locations in other EU countries in case of Brexit, so the threat is real.
"Financial services account for 10% of the UK’s tax take, half of which comes from international firms headquartered in London. Losing that would be hugely damaging to our economy."
Senior business leaders urge others to 'speak up' for Britain's EU membership
“Britain should focus on reforming the EU to make it work better, not sleepwalk towards the exit.”
– Lucy Thomas, Campaign Director of Business for New Europe
A number of leading business figures have spoken out about the need for the UK to remain part of the EU and urge others to join them in making the case.
At Davos yesterday, Sir Roger Carr, Chairman of BAE Systems; Sir Martin Sorrell, CEO of WPP; and Iain Conn, CEO of Centrica all made it clear that EU membership is good for British business. Sir Martin and Sir Roger are both members of the Advisory Council of Business for New Europe.
Lucy Thomas, Campaign Director of Business for New Europe, said:
“These comments by some of Britain’s most respected businesspeople should act as a wake-up call for politicians and others who want us to remain in, but haven’t yet spoken up. Business is clear that, while the EU needs to be reformed, our membership is hugely beneficial. Europe is the destination of 50% of our exports, and the CBI has calculated that membership is worth up to £78 billion a year.
“Business wants the EU to focus on jobs and growth. Today’s announcement from the European Central Bank about quantitative easing shows that the Eurozone countries get it. Reforms the British government has been pushing for years, such as the completion of the Single Market, are now at the heart of the Europe’s agenda.
“Britain should focus on reforming the EU to make it work better for business, not sleepwalk towards the exit and create damaging uncertainty”.
John Major is right that Britain shouldn't use megaphone diplomacy
“The best way to achieve EU reform is to work with our friends and allies.”
– Lucy Thomas, Campaign Director of Business for New Europe
Business for New Europe, the business group that makes the positive economic case for EU membership, today echoed Sir John Major’s remarks on the EU, saying that the UK shouldn’t use ‘megaphone’ diplomacy to reach agreement with our allies. The former Prime Minister said that “staying within the EU is in our best interest,” and that Britain needs to engage if it wants to achieve reform of the EU. The former Prime Minister said that “UKIP does not represent the majority of the British population. Present the people with the broader arguments and they will be persuaded that staying within the EU is in our best interest." He added: “I have absolutely no doubt that the UK and the EU can find agreement, provided that we remove the misunderstandings and neuroses that often exist in negotiations between European countries.” On negotiations with Europe, he said: “If we discuss these issues rather than debate them through a megaphone, then we are likely to achieve agreement. Unfortunately, all too often it is not about finding agreement but about justifying disagreement.”
Lucy Thomas, the Campaign Director of Business for New Europe, said:
“John Major is right that the best way to achieve EU reform is to work with our friends and allies, not alienate them with unrealistic demands, or use megaphone diplomacy for short-term political gain.
“It is important to remember that our natural allies in the EU ‘want the UK to remain in, but not at any cost’. Instead, we need to be finding common ground with European partners. As Angela Merkel said on her recent London visit, ‘where there’s a will there’s a way’.”
Don't lose sight of huge benefits of EU-US trade deal
“A free trade deal between the EU and US would be of huge value to the UK economy, and the rest of the EU"
- Roland Rudd, Chairman of Business for New Europe
Despite public concerns outlined in a report today, Business for New Europe, the pro-European business campaign, remains confident that a successful deal can still be negotiated.
Roland Rudd, Chairman of Business for New Europe, said:
“A free trade deal between the EU and US would be of huge value to the UK economy and the rest of the EU, so we need to keep focussed on the long-term prize.
“The European Commission is right to listen to public concerns and to reflect those in future talks. There clearly need to be safeguards on the provision of public services, for example, which negotiators must understand.
“Negotiating a free trade deal between the world’s two largest trading blocs was always going to be challenging, but when it could boost the UK economy by around £10bn each year, we should keep momentum going.”
Business for New Europe responds to Commission work plan
“We welcome the proposals being put forward and the decision to withdraw significant amounts of previously proposed legislation”
– Alisdair McIntosh, Director of Business for New Europe
Business for New Europe, the business group that makes the positive economic case for EU membership, today responded to the publication of the European Commission’s Work Programme for 2015.
Alisdair McIntosh, Director of Business for New Europe, said:
“We welcome the proposals being put forward and the decision to withdraw significant amounts of previously proposed legislation to avoid wasting time on measures that are less important or unlikely to be adopted. In both respects, the Commission is showing an admirable focus on what matters most - increasing growth and jobs.
“The Work Programme talks of ‘a need to clear the decks so that time and energy can be invested in those proposals that will have the biggest impact on jobs and growth and which have a good prospect of being adopted in the near future’.
“This is the first time a Commission Work Programme has placed such emphasis on what it’s not going to do. It helps to reinforce a clear sense of purpose.
“We also welcome the measures to facilitate economic growth in other respects. In particular, we applaud proposals to: improve the Single market, especially in services and the digital field; drive forward Capital Markets Union to finance growth; complete a new Energy Union to help address energy security and climate change, and increase competitiveness; and achieve an effective free trade agreement with the USA. These measures highlight some of the ways that the EU can benefit the British economy among others in Europe and beyond.
“In addition, the Commission rightly recognises that it needs to get better at legislating, and that the Council of Ministers and the European Parliament do, too. Its proposal for a new agreement between the institutions on better law making is therefore extremely welcome.
“This is a Commission that understands business. We now want to see it deliver, working with the Council and the European Parliament.”
BNE responds to speech by Douglas Alexander on Britain's place in Europe
“EU membership is about the national interest. Investment, growth and jobs are at stake.”
– Alisdair McIntosh, Director of Business for New Europe
Business for New Europe, the business group that makes the positive economic case for EU membership, responded to today’s speech by Douglas Alexander, Shadow Foreign Secretary, titled “Britain’s place in Europe: why the voice of British business matters.”
Alisdair McIntosh, Director of Business for New Europe, said:
“There is much to welcome in this speech. When politicians step forward and highlight the economic benefits of EU membership, they make an important contribution to the debate. We hope they will do this across the political parties.
“The debate about our EU membership is about the national interest. Investment, growth and jobs are at stake.
“EU membership is particularly important to vital industries including aerospace, the automotive sector, engineering and pharmaceuticals. It also plays a crucial role in facilitating research and development. These areas are critical for jobs and competitiveness. Politicians and business leaders alike need to reflect this.
“Mr Alexander is also right to emphasise that reform is needed to make the EU more competitive. There is wide support across the EU for such improvements. Politicians of all parties need to spell out in detail the reforms they propose and make them happen.”
BNE highlights polling of young Britons as Ed Miliband says 16 year-olds should get the vote
Business for New Europe recently commissioned polling by YouGov of young people aged 14 to 17.
This is relevant to Ed Miliband’s stated intention to give the vote to people aged 16, on Leaders Live.
Among other findings, the research for Business for New Europe showed that the proportion of young people saying they didn’t know how they would vote in a general election or in/out referendum on the EU fell dramatically once they reached 16.
Alisdair McIntosh, Director of Business for New Europe, the business group that makes the positive economic case for EU membership, said:
“Our research shows that young people are politically aware at the age of 16. They have formed views on a whole range of issues. These findings make an interesting contribution to the debate.”
This polling is now hosted on YouGov’s website here: http://bit.ly/1BtRc9U