In Praise of the Single Market: MORI Captains of Industry poll
On the twentieth anniversary of the Single European Act receiving royal assent in 1986, new evidence suggests that business leaders in the UK recognise the benefits of the single market.
Research for the renowned MORI Captains of Industry survey shows that 78% of business leaders say that the single market has been helpful to UK business (with only 22% saying it has been unhelpful). This is compatible with a Yougov poll carried out earlier this year which showed that 68% of FTSE250 business leaders think that the single European market has been good for UK business, with only 12% saying this is not the case.
In addition, 38% of business leaders said that the European Commission should have more powers to fully implement the single market (with 55% saying that the Commission already had enough powers).
Roland Rudd, Chairman of Business for New Europe, said:
“The benefits of the single market are clear to the business community. The area of contention is finding the most effective way of implementing it. The fact that a significant percentage of business leaders favour giving the European Commission greater powers to implement the act underlines their desire to see it more effectively imposed.”
Looking back at the passage of the SEA, Lord Brittan, BNE Advisory Council member and Vice-Chairman of UBS Investment Bank, said:
“The Single European Act 1986 brought about a peaceful, free-market-based revolution in Europe. Before it, Europe was characterised by border queues, customs checks, currency controls and competing national regulations. It was the Single European Act that turned the tables against those who had been resisting liberalisation. It unleashed an assault on barriers to trade which has been sustained ever since.”
ENDS
NOTES TO EDITORS:
1. BNE’s aim is to support the UK’s active engagement in Europe, and a reformed, enlarged and free-market EU.
2. BNE’s principles are as follows:
- We support the UK’s membership of the EU and oppose withdrawal to the margins; we support positive and constructive engagement with the EU as the only sensible approach and as vital to our national interests.
- We support a vision of a prosperous free-market Europe able to compete in a globalised world.
- We support economic liberalisation and oppose excessive EU regulation, centralisation and red tape.
- We support institutional reform, further cooperation between EU member states where it is in Britain's interests and oppose old-fashioned federalism.
- We support the enlargement of the EU including Turkey, and recognise the benefits that the recent wave of enlargement have brought.
3. BNE is run on a day-to-day basis by Zaki Cooper (Director), whom is supported by Roland Rudd (Chairman) and Sir Stephen Wall and Sir Michael Jay (Vice-Chairs).
4. For further information about Business for New Europe, see www.bnegroup.org or contact +44 (0) 207 256 6575, +44 (0) 7787 513 864 press@bnegroup.org
