Finance directors at British companies say that business as a whole would be put at a disadvantage if sterling continues to remain outside the eurozone - but that they themselves would vote against joining the euro if a referendum were to be held.
For a full pdf of the press release and detailed survey results click here
The surprising results are revealed by Financial Director magazine. The key findings are:
50% said that UK business as a whole would be disadvantaged if, as now appears likely, Britain does not join the euro; only 26% said that UK business would benefit by staying out (17% said “neither”; 7% “don’t know”)
But in a very tight race, 46% said they would vote in a referendum against joining the euro,while 45% said they would vote in favour of joining (9% “don’t know”)
Why do FDs say they would vote against something that they believe would be good for business?
“FDs who believe the euro would have a neutral net effect on UK businesses are not prepared to give the single currency the benefit of the doubt,” says Andrew Sawers, editor of Financial Director. “They vote overwhelmingly against joining the euro. Moreover, a small but significant number of those who think it is good for business would also vote against it.”
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