UK: Businesses remain strongly committed to staying in the EU

The Business EU Barometer from the British Chambers of Commerce gauges business sentiment on the UK’s relationship with the European Union. This quarter, respondents were again asked to give their view on the impact of different scenarios for Britain’s future relationship with the EU. The key points to emerge were:

• Business wants more decisions made in the UK: the scenario viewed most positively was for the UK to remain in the EU, but with specific powers transferred back to Westminster. 54% of respondents believe this would deliver a positive impact for their business (although this is down two points on Q4 2013 and seven points on the same quarter last year).
• Most businesses think withdrawal from the EU would be bad for their business: the scenario viewed most negatively was full withdrawal from the EU. 61% of respondents believe this would have a negative impact (down one point on Q4 2013).
• There is little support for further integration: 36% of respondents (down six points on Q4 2013) believe further inte¬gration would have a negative impact. 24% (unchanged) believe this scenario would be positive.
• Uncertainty about the Prime Minister’s renegotiation strategy is rising: Almost one in five businesses are unsure about the impact of the Prime Minister’s renegotiation and referendum strategy. The figure is the highest on record at 19% (up three points on Q4 2013).

According to the findings of  first quarter survey on business in UK, carried out by the British Chamber confirms that the business it is strongly committed to staying in EU. support for re-negotiations of Britain’s membership has declined over the past year. please find here the full report.