An independent poll of 1,000 heads of companies across the UK recealed that only 31 per cent of businesses in the South East are in favour of the euro and 67 per cent of them want to keep the pound.

The survey was carried out by ICM on behalf of Business for Sterling, the non-party political campaign started last year to put the business case for keeping the pound, and claims to be the most comprehensive research yetundertaken of business attitudes to the single currency.

Across the country as a whole 32 per cent of companies questioned support the euro compared to 63 per cent backing the pound.

According to poll the CBI's support for the euro is building a backlash with 64 per cent of its members opposing it.

In addition 59 per cent of British Chambers of Commerce expressed opposition to the single currency.

But the Institute of Directors' and the Federation of Small Businesses' hostility to the currency was backed by their members (64 per cent and 69 per cent respectively).

On the plus side a third of the businesses quizzed said the ability to compare prices would be a big benefit.

Almost all the South East businesses surveyed (94 per cent) said they thought the introduction of the euro would lead to more regulation and 64 per cent beieved it would bring higher unemployment.

Nick Herbert, chief executive of Business for Sterling, claimed the survey provided a clear demonstration that the majority of businesses reject the single currency.

He said: "The claim that business is in favour of the euro was always false."

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