Member Article

EU exit would cost 40k North East jobs, warns regional MEP

An EU exit would cost the North East around 40,000 jobs, Liberal Democrat MEP, Fiona Hall has warned.

Following this week’s calls from the CBI to remain in the EU, the leader of the Liberal Democrat MEPs has drawn on a YouGov survey that suggests more than 1,800 North East companies would close immediately if Britain was to exit the EU.

The figures were estimated using data from the recent Business for Britain survey and regional business population estimates from the Department for Business, Innovation and Skills.

Nationally, 6% of the 1024 respondents to the YouGov poll said their business would close if Britain left the EU. That equates to 5% of small businesses, 8% of medium-sized businesses and 9% of large businesses.

Fiona Hall welcomed the CBI’s report, and said: “The CBI position is one shared by the Liberal Democrats. There is obvious room for reform of the EU but any talk of an exit would be disastrous for businesses and jobs.

“At a time when the economy looks to be turning the corner, we should be seizing opportunities to create jobs and growth by playing a leading role in the EU, not putting our the recovery at risk by pulling out.”

Commenting on the North East statistical analysis, she added: “The longer term impact is likely to be considerably worse as 140,000 North East jobs are linked to trade with the rest of Europe.

“No wonder businesses I speak to in the region are deeply concerned about the irresponsible anti-EU posturing we’ve seen from UKIP and the Tories.“

This was posted in Bdaily's Members' News section by Tom Keighley .