Businessman Sir Victor Blank has welcomed Ed Miliband's "sensible" pledge to offer voters an EU referendum if there is a proposed transfer of powers from Westminster to Brussels.
The former Lloyds TSB chairman expressed strong support for British membership of the EU, saying the prospect of an exit was "horrific".
Ed Miliband effectively ruled out a referendum on Britain's membership of the EU today, as he set out his party's stance on the issue.
Confused by Labour' pledge to have a referendum on Britain's membership of the EU? You are not alone.