Entrepreneurs sign letter supporting Lib Dems

Nick Clegg has won the backing of more than 50 entrepreneurs, who claim that "the country and business would benefit" from the Liberal Democrats staying in government after May's general election.

In a letter to the Financial Times, the business people claim Mr Clegg's party helped to provide five years of stable coalition government, introducing valuable reforms in education, apprenticeships and pensions.

The Conservatives were quick to point out that Lib Dem letter failed to match a similar Tory initiative this month in which more than 100 business figures - including a number of FTSE 100 bosses - backed David Cameron.

But senior Lib Dems said the letter was evidence of the "professionalisation of the party" and that it was growing in stature after being in government.

The signatories of the letter include Peter Bennett-Jones, founder of television production company Tiger Aspect; Helen Pitcher, chair of consultancy Advanced Boardroom Excellence; Richard Reed, co-founder of Innocent Drinks; Richard Pym, chairman of Allied Irish Bank; and Andy Wood, chief executive of Adnams brewery.

About half of the 55 signatories are Lib Dem donors and in four cases represent the party in the House of Lords. None of them lead a FTSE 100 company. "This is a pale imitation of our letter," the Conservative party said.

The letter argues that the coalition brought stability to Britain in a time of economic crisis and that the Lib Dems would play a valuable role in another coalition, if the election results in a hung parliament.

"The coalition has achieved a tremendous amount in addition to economic recovery," they write, arguing that the Lib Dems would add business-friendly ballast to a new government.

"In view of their track record in sustaining the present government and their positive role in it, we believe it is essential to have enough Liberal Democrat MPs in the new parliament to provide a clear and sensible voice for the centre ground."

"They have the experience, a clear commitment to Europe and a strong track record. The country would benefit from having them in government again."

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Danny Alexander, Lib Dem Treasury minister, said: "Businesses need confidence to invest and want the recovery to be fully secured.

"The Conservatives will undermine this confidence by cutting too much and pushing for an EU referendum while Labour will borrow too much and continue on their anti-business track."

Business is unlikely to be so enthusiastic about other aspects of the Lib Dem manifesto, published this week, including the party's opposition to any expansion of London's airports.

The party is committed to making the wealthy pay more in taxes - including through a so-called "mansion tax" - and wants to impose a temporary additional rate of corporation tax on banks.

Mr Clegg is opposed to an EU referendum in the next parliament, but could trade that position in a post-election deal with Mr Cameron in exchange for other Lib Dem policies.

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