CBI: Brexit would have 'serious downsides' for UK

Benefits of membership outweigh disadvantages

Leaving the European Union would have serious implications for Britain, the Confederation of British Industry (CBI) has warned in a new report.

The business lobby group said the benefits of EU membership outweigh the disadvantages, although it added there are downsides to the union and it must "work better". CBI director general John Cridland said: "The CBI speaks for 190,000 firms of all sizes, in every sector and in every corner of the UK, and most of our companies want the UK to be in a reformed EU. "For business the benefits of full membership outweigh the disadvantages, but the EU must work better." The benefits of membership include more customers for businesses, reduced costs for businesses, more choice for customer...