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Economic case for UK to stay in Europe is 'overwhelming'

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Economic case for UK to stay in Europe is 'overwhelming'

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First it was rebel members of parliament, now business leaders have waded into the debate over Britain’s membership of the European Union.

Top industry figures have signed a letter in the British Independent newspaper, saying the economic case to stay in Europe is “overwhelming.”

Virgin founder Richard Branson is among them.The leaders say the UK stands to lose up to 108 billion euros a year if it goes it alone.

It comes as British Prime Minister David Cameron is accused of “losing control” of his Conservative party, amid internal divisions over Europe. He has recently been forced to back a new bill that would enshrine an in-out referendum pledge in law.

Cameron’s problems have been made worse by claims that an unidentified, close aide described Conservative grassroots Eurosceptics as “mad swivel-eyed loons.” The comments have been denied by Downing Street.