The biggest employer's group in Britain had intensified its campaign for the UK to retain its membership in the European Union, albeit with some reforms. The group said that the retention of EU membership is 'overwhelmingly' in the country's interest.

The group, the Confederation of British Industry announced last Monday the opening of its national conference. It placed its membership at a net worth of between GBP62 billion or AUD105.18 billion and GBP78 billion. This is computed as nearly five percent of Britain's total output.

According to Confederation of British Industry Director-General John Cridland, "We have looked beyond political rhetoric to examine the pros and cons of EU membership and British business in unequivocal - the single is fundamental to our future."

Recently, UK Prime Minister David Cameron had promised to get back some of the powers ceded to Brussels and then put new terms into the British membership in the EU through a referendum to the publicn by the end of 2017. 

For its part, the CBI said there is 'no realistic alternative' to EU membership that could replace the benefits provided in the current systems while eliminating costs. The group though have submitted a list of reforms to the British membership in the EU, such as permanent opt out provision and removal of barriers to e-commerce.