More than 500 business people, including former Marks & Spencer chief executive Sir Stuart Rose and the heads of Next, B&Q and Harvey Nichols, have launched a campaign to negotiate a better deal for the UK in the EU.
After the Conservative Party vowed to push to change the UK's place in Europe, a group including Phones4U and Superdrug founders John Caudwell and Peter Goldstein, will today call for Brussels to devolve more powers to the UK.
Each member of the group, which also includes British American Tobacco chairman Richard Burrows and Carpetright founder and chairman Lord Harris, has signed up to a statement which says: "We believe that the Government is right to seek a new deal for the EU and for the UK's role in Europe.
"Far from being a threat to our economic interests, a flexible, competitive Europe, with more powers devolved from Brussels, is essential for growth, jobs and access to markets."
The group said it is not debating whether the UK should stay in or leave the EU, but instead "supports a full and far-reaching renegotiation" of its relationship with the block.