EU membership is a “vital ingredient of the UK’s future economic security and prosperity”, a senior business leader has said, as industry experts backed new research by Best for Britain.
Former chairman of the International Chambers of Commerce (ICC) and ex-President of the Confederation of British Industry (CBI) Paul Drechsler CBE, has highlighted the “material economic harm” of the UK’s exit from the EU.
It came as executives championed new research from Best for Britain which found public support for the UK being a member of the European Union (EU) stands at 53%, and that political parties can galvanise their support among progressive voters by advocating for such a position.
Virgin Group chairman - and chair of Best for Britain - Peter Norris cited the “looming inflationary impact of the Iran war” and “the worsening geopolitical landscape” as reasons “the UK’s isolation from our neighbours in Europe has only become more of a risk for businesses”.
He advocated “membership of the world’s largest trading bloc, and far closer defence ties with our allies” as “not only a no-brainer… [but] now a crucial hygiene factor for UK plc”.
Best for Britain’s report, based on YouGov polling data, also found that a pro-membership position offers significantly higher economic growth than the status quo, which is limiting efforts to cut the cost of living, and has been backed by the former top civil servant Sir Philip Rycroft.
Sir Philip, former permanent secretary at the Department for Exiting the European Union, wrote exclusively in the Times: “No one can credibly claim that we have marched to the sunny uplands of sustained economic growth as a consequence of Brexit.”
Commenting on rising support for the UK’s membership of the EU, Peter Norris, chairman of Virgin Group and Best for Britain, said:
“In an ever-more unstable world, amid the looming inflationary impact of the Iran war on the global economy, and the worsening geopolitical landscape, the UK’s isolation from our neighbours in Europe has only become more of a risk for businesses.
“Membership of the world’s largest trading bloc, and far closer defence ties with our allies, is not only a no-brainer, it is now a crucial hygiene factor for UK plc, underpinning our future economic growth and security.”
Paul Drechsler CBE, former chairman of the International Chambers of Commerce (ICC) and former President of the Confederation of British Industry (CBI), speaking in a personal capacity, said:
“The cost of the UK’s exit from the EU, and the material economic harm which followed - is measured not just in sluggish GDP, rising trade barriers and growth at a standstill, but incalculable costs to opportunities, innovation, and investment.
“Membership of the biggest global free trade area was always - and remains - a vital ingredient of the UK’s future economic security and prosperity. It is the right time for the UK to be super-ambitious about its relationship with Europe, and as business leaders, we owe it to future generations to make that case confidently and clearly.”
Dr Dani Loughran, Managing Director of Aston Chemicals, said:
“Industries in all sectors of the UK have struggled since Brexit, hampered by unnecessary red tape, growing regulatory burdens, and barriers restricting trade with our nearest neighbours, with the resulting economic storm hammering our overstretched public services even further.
“It’s long past time to have a grown-up conversation about the UK’s membership of the EU, and the vast improvements it would bring to jobs, growth, and the public finances - benefitting the working people of this country.”
Deborah Annetts, CEO at the Independent Society of Musicians (ISM), said:
“Brexit has been devastating for touring musicians and artists, damaging careers, opportunities and GDP, and the evidence is overwhelming: the ISM found nearly 50% of musicians are working less in the EU than they were before the TCA was introduced.
“Despite warm words, progress between the UK and the EU on solutions has been nearly non-existent, and many musicians understand that the straightforward solution to the complex issues facing touring artists is full EU membership. I know how desperate they are for greater cultural exchange and many would welcome the debate about EU membership.”
Charles Owen, Managing Director of European Pubs Ltd and Seasonal Business in Travel, which represents the UK’s outbound tourism industry, said:
“Leaving the EU had a catastrophic impact on our business and supply chains, particularly with regard to staffing our operations.
“UK membership of the EU would not only reverse the damage our industry suffered, it would bring both the economic growth to support public services, and the security we need to keep our country safe.”