By, Sandy Rashty
1 min read
BySandy Rashty, Sandy Rashty
Top business leaders have backed David Cameron's campaign to stay in the European Union.
Jewish tycoons including Lord Sugar, Sir Martin Sorrell, Sir Philip Green and Sir Victor Blank say they would vote for the UK to remain in the Union in June's referendum.
Also backing the "In" campaign was former Trade Minister Lord Livingston, Canary Wharf Group chairman Sir George Iacobescu, Goldman Sachs co-chief executive Michael Sherwood, and former Dragons' Den investor Kelly Hoppen.
Lord Livingston, the former BT chief executive, told the JC: "I believe we should stay in the EU.
"If we left, there would be significant uncertainty for our exporters and potentially quite a lot of delay to provide new trade agreements to replace those we already have. I don't think that the EU stifles us - it's not perfect but the alternative is distinctly less perfect still, and more uncertain."
Sir Victor Blank echoed that position. He said: "It is dramatically better for the UK to stay in the EU because it will create more jobs, more prosperity and a better standard of living for the people of the UK."
Lloyd Dorfman, the Travelex foreign exchange founder, said: "From both an economic and security point of view, co-operation is better than isolation."
Leon Blitz, UK Israel Business chair, said: "I don't think trade between the UK and Israel would be at all affected if we came out of Europe – we would just have to negotiate a new agreement."
But Mr Blitz, the managing partner of investment firm Grovepoint Capital, said he would back the "In" campaign. "The idea of facing the uncertainty of exit - with all of the unintended consequences of that action - is simply irresponsible," he said. "Britain has always engaged with the world and had disproportionate global influence. Anything we do to undermine that level of influence would be a sad day for a powerful nation."
But former Cabinet Minister Lord Young came out in support of Brexit. "I've thought we should leave for 35 years," he said. "Europe is in recession. The rest of the world is booming and traditionally we have always traded with the rest of the world. If we leave the EU, it means we can shed all the restrictions of the European regulations."
Businessman Claude Littner said he was undecided. "At this point, I am ambivalent. Exiting the EU would be an exciting challenge – with a period of uncertainty. Staying in may be the safer option, with known restrictions and ongoing frustrations."
