British business recognises that the UK belongs in the EU

The EU is an asset for Britain, not a hindrance. Unlike Tory MPs, our businesses haven't forgotten that.

"Britain could be an island completely adrift in 20 years."

Richard Branson’s new year message, including the stark warning quoted above, suggests that the silent majority of British business opinion are rousing themselves over what up until now has been a politico’s debate about Britain’s place in Europe. As Branson points out, the world is going to need its regional blocs to do its business. And as he pointed out in his interview with me in the New Statesman in July, the European Union is an asset for Britain, not a hindrance.

The truth is that the UK has never lost a vote on financial market regulation in the EU. We pay about £1 per person per week for membership, and for that don’t just get access to the world’s largest single market, but also shape its rules, and get the benefits of EU clout on global trade (trade agreements with 46 other countries). The tragedy of government rhetoric over the last two years is that it has demonised the status quo in Europe, without advancing an alternative. The fantasy island occupied by Boris Johnson of a club that is all single market and no social, environmental, or judicial cooperation doesn’t exist.

I hope the irony was not lost on anyone that the Prime Minister’s announcement of his big idea for his G8 Presidency – an EU-US trade deal – depends on, yes, the agreement of the EU operating by qualified majority. In the absence of global government, regional associations like the EU are going to become more important in the modern world.  If it looks like Britain has forgotten that, and certainly that is the impression from large swathes of the Tory party, then the rest of Europe is going to say "shut up or get out". In fact we should do neither: we should be advancing serious ideas for the EU to advance an agenda appropriate for all 28 members, including Britain.

The European Union flag flies with those of its member states in front of the European Parliament. Photograph: Getty Images.

David Miliband is the  President and CEO of the International Rescue Committee
He was foreign secretary from 2007 until 2010 and MP for South Shields from 2001 until this year. 

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Italian PM Matteo Renzi resigns after referendum No vote

Europe's right-wing populists cheered the result. 

Italy's centrist Prime Minister Matteo Renzi was forced to resign late on Sunday after he lost a referendum on constitutional change.

With most ballots counted, 60 per cent of Italians voted No to change, according to the BBC. The turn out was nearly 70 per cent. 

Voters were asked whether they backed a reform to Italy's complex political system, but right-wing populists have interpreted the referendum as a wider poll on the direction of the country.

Before the result, former Ukip leader Nigel Farage tweeted: "Hope the exit polls in Italy are right. This vote looks to me to be more about the Euro than constitutional change."

The leader of France's far-right Front National, Marine Le Pen, tweeted "bravo" to her Eurosceptic "friend" Matteo Salvini, a politician who campaigned for the No vote. She described the referendum result as a "thirst for liberty". 

In his resignation speech, Renzi told reporters he took responsibility for the outcome and added "good luck to us all". 

Since gaining office in 2014, Renzi has been a reformist politician. He introduced same-sex civil unions, made employment laws more flexible and abolished small taxes, and was known by some as "Europe's last Blairite".

However, his proposed constitutional reforms divided opinion even among liberals, because of the way they removed certain checks and balances and handed increased power to the government.

 

Julia Rampen is the editor of The Staggers, The New Statesman's online rolling politics blog. She was previously deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.