SIR - It is not EU red tape and hostility that is driving investors away to other parts of the world - it is the chance for some companies to widen their profit margins by exploiting the cheap labour forces in the Third World.

While the EU may not be a perfect institution, it is typical of some EU sceptics that they readily accept the free trade in Europe, but not the legislation that goes with the territory.

Irrespective of Britain's membership in the EU, there is no guarantee that Britain's economy will remain buoyant forever. Stronger economies will no doubt takes us over at some future date.

L SPITERI,

Worcester.