Douglas Alexander, Labour’s Shadow Foreign Secretary, said:

“David Cameron’s arbitrary timescale for a referendum on EU membership has sent a wave of uncertainty across boardrooms in Britain.

“As the comments from HSBC’s Chairman this morning confirm, business leaders are speaking up about the risk of uncertainty that UK exit from Europe brings. David Cameron can no longer claim that this isn’t already having an impact on company’s decisions around jobs and investment in this country.

“The risk of David Cameron’s gamble on EU membership could not be greater for British business, and would be a disaster for Britain’s financial services sector in particular.

“Labour is clear that the right path for the UK is reform in Europe, not exit from Europe. That is why Labour will secure Britain’s place in a reformed EU and reform our banking industry so we have more competition and boost lending to business. This is how we defend British jobs and British business and put the national economic interest above party politics.”

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