Industrialists and E.E.C.

Press, Volume CXIV, Issue 33514, 20 April 1974, Page 15

Industrialists and E.E.C.

(N.Z. Press Assn—Copyright)

LONDON, April 19.

British industrialists have strongly opposed the Labour Government’s threat to withdraw from the European Common Market if it cannot renegotiate the terms of Britain’s membership the way it wants.

The Council of the Confederation of British Industry said yesterday that it was appalled by the possibility that the membership treaty, authorised by Parliament under the last Conservative Administration, could be “torn up.” The organisation said that it favoured renegotiation of the terms of membership to get Britain a better deal, but it could not accept British withdrawal from the European bloc. Leaders of the C. 8.1. plan

to send protest letters to the Prime Minister (Mr Wilson) and to the Foreign Secretary (Mr James Callaghan), the minister handling the sensitive re-negotiation bid that has angered Britain’s Common Market partners. I The organisation, which represents about 12,000 British companies, believes that Britain’s withdrawal from the imarket would have serious political and economic consequences.

British industry would be badly hit, it reasons; unemployment now touching 600,000 would soar, investment would drop and the European Community could discriminate against Britain in trade. It also maintains that the traditional economic links Britain had with the Commonwealth, reduced when Britain joined the market, cannot be fully restored.

The C. 8.1. also stresses that Britain’s only role in world affairs these days is through the market. Quit Europe, it says, and Britain’s once-great influence will almost vanish.

Many British firms have intensified links with Europe

since Britain joined the Common Market at the beginning of 1973.