European business leaders sign letter in support of EU
The leaders of some of Europe's biggest businesses have today issued a letter in support of the European Union, ahead of the upcoming UK referendum.
All 51 members of the European Round Table of Industrials signed the letter, which said that an unravelling of the Single Market and the rules governing 28 countries "would reduce, not boost our prosperity".
"Investment and job creation benefit from a united Europe," the business chiefs stated. "And, while respecting the decision of the people in the United Kingdom, we believe that a Europe without the UK would be weaker, just as the UK itself would be weaker outside Europe."
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The group said the EU "certainly needs to be improved", citing a need for a more integrated and efficient energy market, better education and skills training, and more access to capital for small businesses, as some of the issues that need to be addressed.
The letter continued: "No one member state can tackle these challenges alone and the demand for the people and nations of Europe to jointly work through the European Union has never been higher.
"As leaders of some of the largest companies in Europe, we call for renewed confidence in the European Union as the first step to addressing our shared challenges. Only a joint approach to common problems will achieve the changes needed to improve the living and working conditions of the people of Europe, especially for young people and future generations."
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Signatories include company bosses such as Iain Conn, chief executive of Centrica; Carl-Henric Svanberg, chairman of BP; Vittorio Colao, chief executive of Vodafone Group; Jan du Plessis, chairman of Rio Tinto; Ian Davis, chairman of Rolls-Royce; Ben van Beurden, chief exec of Royal Dutch Shell and Martin Lundstedt, president and chief executive of Volvo Group.
Also putting their names to the letter were Jean-Paul Agon, chairman and chief exec of L'Oreal; Paul Bulcke, chief executive at Nestle; and Norbert Reithofer, BMW's chairman.
Over the weekend, ex-HSBC boss Michael Geoghegan made the case for a Brexit, arguing that the UK needs to regain control over the City.