More than 1200 UK business leaders sign letter against Brexit

More than 1,200 business executives have signed a letter supporting UK membership of the European Union.

The letter, published in The Times, which includes the signatures of directors from 51 FTSE 100 companies, said the reasons for continued membership were “straightforward”.

“We know our firms are stronger in Europe. Our reasons are straightforward: businesses and their employees benefit massively from being able to trade inside the world's largest single market without barriers,” the letter stated.

"We know that Britain leaving the EU would mean having to re-establish terms of trade from scratch with our home market of 500m consumers. That wouldn't just hurt exporters but the hundreds of thousands of small and medium firms who do business with them. "

The signatories added that even those supporting the Leave campaign say that, in the short-term, Brexit would “lead to economic uncertainty and would put jobs at risk”.

“Smaller businesses and the people they employ are particularly vulnerable to any economic shock which could follow a vote to leave the EU,” the executives added.

"Britain leaving the EU would mean uncertainty for our firms, less trade with Europe and fewer jobs. Britain remaining in the EU would mean the opposite: more certainty, more trade and more jobs. EU membership is good for business and good for British jobs. That’s why, on June 23, we back Britain remaining in the EU."

Voters go to the polls on Thursday in the biggest political decision to be taken by the UK in almost two generations. Recent opinion surveys have shown a slight lead for the Remain camp as more economists and business leaders and even the chair of the US Federal Reserve have expressed concerns about the hit to the domestic and global economy if the Leave vote wins.