PM To Refresh Line-Up Of Business Advisors

David Cameron is to part company with some of his top business advisors as he seeks to address industry's concerns about the implications of a possible British exit from the European Union.

Sky News understands that Downing Street officials have begun discussing a shake-up of the Prime Minister's Business Advisory Group (BAG) with a view to reconstituting it later this year.

Sources said that at least some of those who were members of the panel would not be asked to resume their roles, which involve meeting four times a year to discuss major economic issues.

The overhaul of the BAG's membership is not unexpected since some of its members have now left the corporate posts which led to the invitations to join it.

These include Harriet Green, the former boss of Thomas Cook whose multimillion pound exit package will be decided in the coming days; Tidjane Thiam, who has quit as Prudential's chief executive to become the boss of Zurich-based Credit Suisse; Ratan Tata, the then chairman of Tata, the Indian conglomerate; and Farah Ramzan Golant, the former chief executive of All3Media, the television producer.

The BAG's other members during the last parliament included Eric Schmidt, the chairman of Google; Andy Street, who heads John Lewis; and Sir Andrew Witty, chief executive of GlaxoSmithKline.

A Downing Street spokesman said: "The Prime Minister is looking at a new advisory group for this parliament. No decisions on membership or format have been made."

Midway through the last parliament, Mr Cameron angered some business leaders by failing to inform them directly that they were being dropped as advisors.

“Membership of the Business Advisory Group is continually reviewed to ensure that a range of business leaders with a variety of experiences can provide advice to the Prime Minister on critical business and economic issues as the UK competes in the global race," a Number Ten spokeswoman said in 2012.

The UK's EU membership will be a crucial issue until a referendum is held, with major companies being encouraged by the CBI, the lobbying group, to engage vocally on the subject.

Sky News understands that Mr Cameron and George Osborne hosted a reception in Downing Street on Monday to thank business leaders who signed public letters supporting the Conservatives during the recent Election campaign.

Among the attendees were the designer Anya Hindmarch, John Neill of Unipart and Sir Christopher Gent, chairman of GSK.

Mr Cameron is said to have joked to the guests that he now woke up barely believing that he did not have to get business policy approved by Vince Cable, the former Business Secretary.

Number 10 declined to comment on what it said was a private event.