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UK exit from EU a viable option, says report commissioned by Boris Johnson

A report commissioned by London Mayor Boris Johnson has concluded that a British exit from the European Union would be better for the city than remaining in an unreformed EU.

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London Mayor Boris Johnson  is likely to give his backing to the report in a speech this week.

A report commissioned by London Mayor Boris Johnson has concluded that a British exit from the European Union would be better for the city than remaining in an unreformed EU.

Johnson is likely to give his backing to the report in a speech this week to launch the document, The Sunday Telegraph and The Sunday Times newspapers said.

The Conservative mayor is to address a business audience on Wednesday.

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The report, by banker Gerard Lyons, contains eight demands for reform which go beyond the ambitions that Prime Minister David Cameron has set out.

If the Conservative leader remains in Downing Street after the May general election, he intends to renegotiate London's relationship with Brussels, then hold a referendum by the end of 2017 on whether Britain should remain in the EU.

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"The best economic scenario for Britain over the next 20 years is to be in a significantly reformed European Union," Lyons told The Sunday Telegraph.

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