ONLY 10 per cent of North-East bosses say quitting the EU would help their businesses, but many watching closely to see if David Cameron can secure a deal that boosts the UK.

A majority of those polled in the North East Chamber of Commerce survey said they currently plan to vote in favour of staying in the EU in the planned referendum.

However, nearly half say that the results of the Prime Minister’s renegotiation of Britain’s membership could yet sway the way they plan to vote.

Overall, 61 per cent of respondents said they would vote to stay in the EU if a referendum was held tomorrow, with 30 per cent saying they would vote to leave.

NECC Director of Policy Ross Smith said: “These results show that while there is not a uniform business view on the issue of EU membership, many of our members see significant risks from a possible exit.

“The impacts that our members have identified would clearly have a broader effect on investment, jobs and wealth in the North East. It’s imperative that these considerations are front and centre of this debate, as it would be foolish to ignore the impact on private sector growth and our renowned export record.

“But businesses also see opportunities to get a better deal from the renegotiation process and reducing the regulatory burden must be a priority for the Prime Minister.”

The survey showed 38 per cent of NECC members believe leaving the EU would have a slight or strong negative impact on growth, with 10 per cent reckoning the effect would be positive.

A total of 36 per cent of respondents forecast a slight or strong negative impact on exports and international trade from exit, with only 7 per cent predicting these aspects would be improved.

But 49 per cent of members said it was very or somewhat likely that the outcome of the Prime Minister’s renegotiation would affect the way they vote when the referendum is held.