Jaguar Land Rover CFO voices UK-EU concern

A SPLIT from the European Union could damage trade for UK business, the CFO of Jaguar Land Rover has warned.

Speaking at the Economist CFO Summit yesterday, Kenneth Gregor cautioned against "barriers" that would arise if the UK is "set aside from Europe".

The comments were made ahead of David Cameron's long-awaited speech on the UK's relationship with the EU. In a speech at Bloomberg's City headquarters, Cameron pledged an in-out referendum in the first half of the next parliament.

Cameron said he would fight for continued British membership of the EU after renegotiating Britain's relationship with the EU.

"A relatively stable relationship feels like a better thing for our business," Gregor told delegates at the central London conference.

Ben Stevens, FD of British American Tobacco, appeared less concerned about a possible British exit. Speaking on the same panel, Stevens said the UK's main trading partners in the future "will not be part of the EU".

If the UK wants to continue being a part of the EU, it should do so "wholeheartedly" or "up sticks" and leave, Stevens added.