Thursday 26 June, 2014

 For Britain to remain in the EU, Brussels must be relevant to business

London Chamber of Commerce and Industry (LCCI) is calling on all party leaders to work with London business to shape the UK's future in the European Union (EU).

In a new report, "London and the EU: Refocusing to support business growth", LCCI conclude London's business interests would be best served by remaining within a recalibrated EU.

The report calls on UK political parties to initiate a dialogue with London business to shape priorities for newly elected Members of the European Parliament (MEPs) and to influence negotiations about the next European Commission later this year.

Focussing on strengthening the single market, the report makes recommendations in the following areas:

• To counter perceptions of inconsistency, the European Parliament should investigate European Commission enforcement of EU directives to ensure a level playing field across all member states.
• To help ease the regulatory burden on small and medium-sized enterprises (SMEs), the 'SME Test' should be a mandatory requirement for all EU legislative impact assessments.
• To drive economic growth, increased employment and greater prosperity, the European Council should prioritise new international trade deals, focusing on the Transatlantic Trade and Investment Partnership.

Commenting on the report, Colin Stanbridge, Chief Executive of LCCI, said: "One year on from our original report when we said the Prime Minster effectively had a mandate from London business to seek to reform the EU, our message remains the same - Britain should remain part of the EU, but the EU must be relevant to Britain.

"London businesses expect to see significant reform by Brussels, with specific powers returned back to Westminster. A recalibrated EU, with a strong focus on trade, enterprise and competition would drive economic growth, increased employment and greater prosperity not just in London - but in the other EU capitals as well.

"Following the recent elections, EU policymakers and decision-takers have an opportunity to show that they can identify common priorities and safeguard the EU's future - but it's up to them."

Download the report.

ENDS

Media contact: 
Nicola Dowlen, Press and Media Relations Manager
T: +44 (0)20 7203 1897
M: +44 (0)7827 241528
E: ndowlen@londonchamber.co.uk

NOTES TO EDITOR:

1. London Chamber of Commerce and Industry (LCCI) is the capital's largest and most representative business organisation, with members ranging in size from multi-national companies to SMEs and sole traders.
2. Colin Stanbridge is available for further comment and interview.