Commenting on the announcement by Business for Britain, Steve Radley, Director of Policy at EEF, the manufacturers' organisation, said:

"Membership of the EU is overwhelmingly in the UK's national interest, but with this comes the need for a set of common rules. The UK cannot pick and mix, choosing EU rules to accept and reject - this is what a red-card process would amount to.

"Many British companies that do not export their goods into the single market rely on the EU for their skilled workers, or operate in a supply chain, with other businesses that do trade with Europe. The benefits of the EU are not then confined to businesses that sell into the single market.

"Poorly crafted regulation from Europe can be harmful, but the UK needs to continue to work from within the EU to secure a lighter-touch for SMEs and exemptions for the smallest businesses. With the future of the UK at stake, the debate on Europe needs to be rational and objective. Today's announcement fell far short of what was required."

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