PM urged not to 'gamble' on Europe

Vince Cable says uncertainty over the EU is 'potentially driving away investors and the jobs they create'

Vince Cable says uncertainty over the EU is 'potentially driving away investors and the jobs they create'

First published in National News © by

Vince Cable is to urge David Cameron not to take a "dangerous gamble" with the national interest as the Liberal Democrats mount pressure over Europe.

On the eve of the Prime Minister's expected announcement of a future referendum on UK membership of the European Union (EU), he will reinforce warnings the strategy risks damaging economic recovery.

Any effort to negotiate large-scale exits from existing EU powers would make it "next to impossible" to safeguard Britain's best interests in the single market, he will suggest.

He will also draw a direct link between the present debate and the surge in popularity for the UK Independence Party (Ukip) with the issue of immigration and the risks of 1930s-style nationalism.

Mr Cameron makes his long-awaited speech in the Netherlands on Friday where he will set out plans to seek the "fresh consent" of the British people after negotiating a new settlement.

He has been at the centre of a growing storm within his own party over Britain's future in Europe and relations with Liberal Democrat coalition colleagues are strained.

The Business Secretary will echo warnings by his party leader, Deputy Prime Minister Nick Clegg, that uncertainty over the future will have a "chilling effect" on the already-fragile economy.

Addressing businessmen in Oxfordshire, he will say: "Any reopening the whole question of British membership creates additional uncertainty at a time when there is already fragile economic confidence in the wake of the financial crisis.

"This uncertainty is potentially driving away investors and the jobs they create," he will say - adding that he had never met a major British exporter who would prefer the UK to be outside the EU.

"I make this point as a minister who has to persuade Asian and US investors to take Britain seriously and create employment here rather than elsewhere."


Post a comment

Remember you are personally responsible for what you post on this site and must abide by our site terms. Do not post anything that is false, abusive or malicious. If you wish to complain, please use the ‘report this post’ link.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree