This article was last updated on April 16, 2022
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Prime Minister David Cameron has rejected claims on Monday that a planned EU referendum will result in damaging the U.K. economy, criticising Labour who argued it should stay in an unreformed 28-member bloc “come what may”.
During an address at CBI employers’ group annual conference, despite some business leaders warned that the EU referendum would drive away foreign investors, Mr Cameron has insisted the vote was not scaring off inward investment to Britain.
The PM has asked: “If there has been uncertainty, why is it that there has been such an extraordinary period of investment into our country?”
According to the facts revealed by U.K. Trade and Investment, Britain was Europe’s top destination for inward investment during 2013-14, attaining 14 per cent more projects as compared to previous year and aiding to introduce more than 60,000 new jobs.
Mr Cameron has told to be agreed that the EU needed to change at the conference and said: “I’m the politician who has the plan for that reform, who wants to see the single market safeguarded and not have us ordered around by the single currency countries; who wants to make sure we belong to a Europe that is about a common market and cooperation and not an ever closer union; and I want to belong to a Europe which addresses people’s concerns, including concerns about immigration.
“Now I’m clear these things can be done.”
The CBI Director General John Cridland has welcomed Mr Cameron’s “endorsement” of the business group’s “In with Reform” European strategy while also raised concerns that the referendum may pose a significant degree of risk to business.
Afterwards, Labour leader Ed Miliband has warned the Tory leader that the plans to hold vote over probable withdrawal from the EU represents a “betrayal” of national interest and a “danger” to the country’s future prosperity.
Mr Miliband has said: “Giving succour to the argument that the real answer is leaving the EU, or contemplating it, simply drags us closer to exit.
“And every nod and wink to those who want to leave sends a message to potential investors in our country that we are not open for business, that our country is a dangerous bet.”
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