Shackle the EU: Business bosses call for European Union powers to be cut in UK

Nearly half - 45 per cent - of the captains of industry want looser ties between the UK and Brussels, Ipsos Mori found.

Matthew Elliott, Chief Executive of pro-reform and referendum group Business for Britain, said of the findings: “Business leaders, even bosses in big business, want a looser, freer relationship with the EU.

“Brussels is hurting our ability to trade and prosper more than ever.

“The only way to guarantee the change we need is through renegotiation and an EU referendum.”

David Cameron says that if re-elected he will negotiate new EU membership terms for Britain and put them to voters in a referendum by the end of 2017 on whether to leave or stay in the union.

Ipsos Mori spoke to 108 executive directors and chairmen from among the UK’s 500 biggest firms.

Of these, 45 per cent wanted a return to Britain’s original situation of belonging to an Economic Community, without political links.

Business leaders like the single market aspect of membership, and how being in the EU makes cross-border trade easier.

But the volume of regulation generated by the EU, and tinkering with the rules, was seen as a disadvantage by more than half of those questioned.

There was also significant concern about the potential damaging impact on Britain of the EU’s poor economic outlook.

Simpler employment legislation was a top demand.

However, pro-Europeans will take heart from the fact that opinion was evenly split, with 45 per cent of those polled saying Britain’s relationship with the EU should remain broadly the same as it is now.

Just four per cent backed closer political and economic integration in the EU.

Only one per cent of the company chiefs backed leaving the EU - which is the aim of the Daily Express’s long-running crusade.