British business in Belgium backs 'Remain'

Wednesday's edition of the financial daily L'Echo reports that British businesses based in Belgium are running scared about the outcome of Britain's EU referendum on 23 June and fear that the country could leave the European Union.

The daily says that practically all British businesses based in Belgium are hoping for a 'Remain' result. It cites Glenn Vaughan, the CEO of the British Chamber of Commerce in Belgium: "It's clear that being part of the EU is essential for the UK and investments. 97% of our members wish to remain in the EU."

Leaving the EU could mean a return to export tariffs and complicated paperwork supporters of 'Remain' in Belgium say.

The British Chamber of Commerce in Belgium represents 250 businesses active in Belgium. They include the pharmaceutical giant GlaxoSmithKline (GSK). GSK has a 5 billion euro business figure in Belgium and is by far the biggest UK business in Belgium. This year alone it is investing 850 million euros here. Its exports represent 12% of Walloon exports.