Eurosceptic business group to lobby Government for EU rethink

The Government is understood to be considering the plans, which will be submitted to the Balance of Competences review of Britain’s relationship with Europe.

But ministers are reportedly worried that embracing the measures, which will focus on reducing the “torrent” of red tape that hampers business growth, could put small firms off exporting, regarded as vital to the economic recovery.

The Europe renegotiation plans come as Chancellor George Osborne prepares to address a conference on EU reform on Wednesday, where he is expected to say that non-eurozone countries such as Britain must be treated fairly inside the EU.

Mr Osborne’s stance is supported by the Institute of Directors, which announced last September that 57pc of its members support an EU renegotiation, focusing on home affairs, employment law and corporate governance.

Business for Britain, which describes itself as “a non partisan campaign, run by business for business”, was established last April to push for a better EU deal on behalf of the UK’s business community.

Brian Kingham, the chairman of Reliance Securities, and Adrian McAlpine, a partner at housebuilder Robert McAlpine, are among the captains of industry who have since signed up to its cause.

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