In a shocking slap in the face for UK PM Cameron, more than 300 business leaders are calling on Britain to vote to leave the European Union, saying that the country’s "competitiveness is being undermined by our membership." As The Telegraph reports, the letter, signed by some of Europe's most senior business executives, claims Brussels "red tape stifles growth" and a Brexit would "create more jobs" exclaiming that "it is business - not government - which generates wealth."

Perhaps this explains why Cameron, Osborne, Obama, and almost every other establishment politician and lackey has embraced 'Project Fear' when it comes to Brexit, proclaiming World War 3's imminence and all the worst parts of the bible will occur should the great unwashed masses exercise their right to vote for democracy (as opposed to a tyrannical superstate).

In an attempt to redress the balance after the Bank of England and the International Monetary Fund last week warned that a Brexit would damage Britain’s economy, the letter in the Telegraph is signed by 306 business leaders in a personal capacity (and also signed by hundreds of people linked to small and medium-sized businesses). In total the backers of the letter are from businesses employing hundreds of thousands of members of staff.

SIR – Britain is the fifth biggest economy in the world and, on current projections, will overtake Germany to become Europe’s powerhouse. Britain is America’s largest inward investor, and our openness and dynamism mean we attract more inward investment than any other European country. Three of the world’s top 10 universities are British, we speak the international language of business, our legal system is trusted round the world and we have an unrivalled reputation for innovation and creativity. These are just some of the reasons we believe that Britain is world-class. However, we also believe that Britain’s competitiveness is being undermined by our membership of a failing EU. Year-on-year the EU buys less from Britain because its economies are stagnant and millions of people are unemployed. According to Mervyn King, the former governor of the Bank of England, the euro “might explode”. Brussels’ red tape stifles every one of Britain’s 5.4 million businesses, even though only a small minority actually trade with the EU. It is business – not government – which generates wealth for the Treasury and jobs for our communities. Outside the EU, British business will be free to grow faster, expand into new markets and create more jobs. It’s time to vote leave and take back control.

Signatories of the letter include Peter Goldstein, a founder of Superdrug, Steve Dowdle, the former vice president Europe of technology firm Sony, David Sismey, a MD of Goldman Sachs and Sir Patrick Sheehy, the former chairman of British American Tobacco.

The polls remain very close...

Finally, no lesser luminary than Lord Farmer, the former Treasurer of the Conservative Party, writes:

“Warnings of disaster if we leave are misguided. Britain, the world’s fifth-biggest economy, should be confident that others will want to trade freely with it especially if, like the EU, they already do so. Europe has a surplus of nearly £70bn with us and no reason to put up barriers. “Nor will EU countries want to restrict their access to the London markets. Canary Wharf alone does more business than Frankfurt and we are Europe’s financial outlet to the world. Everyone benefits when London booms. “We can see the possibility now for a bright new beginning. By voting to leave, we will be taking back democracy and this will benefit everyone. By ending a decades-old deception, we will be leading the way for the continent to become more democratic and less intrusive. Brussels will moan, but I suspect the peoples of Europe will be pleased.”

The choice, as it appears to us is simple: