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”.

In a letter published in the Telegraph, the business leaders say that Brussels’ “red tape stifles every one of Britain’s 5.4 million businesses” and claim that a Brexit would allow them to “create more jobs”.

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.