Chiefs urge PM to protect British stature
Print Edition
A group of banking chiefs, insurance bosses and entrepreneurs urged Prime Minister David Cameron yesterday to safeguard British interests from European Union encroachment amid fears that the UK’s dwindling influence in Brussels could hit their industries hard.
The 54 leaders, who said they together employ some 1 million people, argued in a letter to the Sunday Times that red tape and plans in the EU to tax financial institutions “will continue to erode Britain’s competitiveness in markets in which it has a unique global standing.”
The letter comes amid a heated debate in Britain about its place in the 28-nation EU. The main political parties have been rattled by the rise of the euroskeptic UK Independence Party, which advocates pulling Britain out of the EU and stopping the unfettered right of EU citizens to enter Britain.
Anxious to take a stand, Cameron has actively sought to block former Luxembourg Prime Minister Jean-Claude Juncker from becoming the president of the European Commission — the EU’s executive arm. Britain opposes the veteran advocate of EU integration and is pushing for a vote should the commission put Juncker forward.
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