The president of the Confederation of British Industry, Sir Mike Rake has come out and said that businesses need to speak out early in support of the UK’s membership of the European Union.  

Sir Mike Rake has made it clear that he desperately wants Britain to stay in the European Union and he wants firms to make it “crystal clear that membership is in our national interest" and that there is “no credible alternatives.”

There has been much debate over Britain’s future relationship with the European Union. Many argue that it serves the country well, creating jobs, good relations and a richer culture.

But others, such as Nigel Farage and UKIP, argue that being a member of the E.U. is eroding Britain’s sovereignty and creating a widespread immigration problem that needs to be tackled.

The chairman of J.C. Bamford Excavators Limited (JCB), Lord Anthony Bamford, has echoed Nigel Farage’s words. He believes an exit from the E.U. would benefit Britain and that they have nothing to fear in doing so.

"Britain is the fifth or sixth largest economy in the world. We could exist on our own - peacefully and sensibly.”

But Sir Mike Rake doesn't agree. He believes that a British exit from the E.U. would be a deeply unwise move.

"We need to remind ourselves that we're part of a market of 500 million people to which 50% of our exports go…most businesses and governments want to see a reform that allows us to grow. Reforms can be made that we believe can improve our competitiveness without the need for treaty change."

Prime Minister David Cameron has promised an in/out referendum by the end of 2017. He has urged the British people to trust him to renegotiate better terms with the E.U. before opting to leave.

LM/PHX