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British Investor Jim Mellon, worth an estimated 拢850 million, believes Britain leaving the European Union is the best decision for business.

Mr Mellon also believes David Cameron has made a 鈥渒ey error鈥� in his negotiations with the European Union.

Mellon told Today: 鈥淗e (Cameron) has already indicated he wants to stay in Europe鈥� no matter what terms are negotiated he鈥檒l be backing the pro-European course.鈥�

He added: 鈥淚 think they (the government) are going to come out and support remaining in the European Union and they鈥檒l get very few concessions from the EU.鈥�