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UK future 'may be brighter outside EU', says BCC boss | |
(35 minutes later) | |
The UK's long-term prospects could be "brighter" outside the EU, a business leader has said. | The UK's long-term prospects could be "brighter" outside the EU, a business leader has said. |
John Longworth, head of the British Chambers of Commerce, described the EU referendum as a choice between the "devil and the deep blue sea". | John Longworth, head of the British Chambers of Commerce, described the EU referendum as a choice between the "devil and the deep blue sea". |
He told its annual conference that voters faced "undoubtedly a tough choice". | He told its annual conference that voters faced "undoubtedly a tough choice". |
One was staying in an "essentially unreformed EU", with the other being the uncertainty of leaving the union. | One was staying in an "essentially unreformed EU", with the other being the uncertainty of leaving the union. |
"The dynamism and resilience of the City of London and the UK business sector suggests to me that, in the long run, we have the capacity and capability to create a bright, if not brighter, economic future outside of the EU - just as we would have done had we had the opportunity to stay in a truly reformed Europe," Mr Longworth said. | |
He told the conference in London that his observation was based on key economic reports on the merits of staying in the EU and of leaving. | |
The BCC has said it was not aligned to either camp in the debate because its membership was split on the issue. | |
BCC members will be surveyed so their views could inform the debate ahead of the vote in June, he added. | BCC members will be surveyed so their views could inform the debate ahead of the vote in June, he added. |
Analysis: Kamal Ahmed, economics editor | |
It may be anecdotal, but businesses I have spoken to this morning suggest the leave EU campaign has had a reasonable start | |
One theme is emerging from today's British Chambers of Commerce annual conference. | |
Yes, many businesses support remaining in the European Union. | |
But many also say the "leave" campaign has had a good start. | |
And opposition to Brexit might be softening. | |
Read more from Kamal here. | |
Mr Longworth also told delegates: "Decision making in business suffers from the pressures of the short-term and is naturally focused on the interests of the particular business concerned. | |
"If I were to ask the business community one thing in this referendum, it would be to look to the long-term and the wider interests of the society in which you operate, and make your choice based not on the next financial year, but on what you want for your children and grandchildren." | |
Chancellor George Osborne and German Finance Minister Wolfgang Schaeuble will take part in a Q&A session at the conference on Thursday afternoon. | Chancellor George Osborne and German Finance Minister Wolfgang Schaeuble will take part in a Q&A session at the conference on Thursday afternoon. |
Mr Osborne is expected to say leaving the EU would expose UK companies to the "worst of all worlds". | Mr Osborne is expected to say leaving the EU would expose UK companies to the "worst of all worlds". |