Bradford firms are split over the value of membership of the European single currency, according to a survey by the district's Chamber of Commerce.

And the results are in line with national research which showed an almost equal number of people in favour as against monetary union in Europe.

Chamber president Judith Donovan, a member of national anti-euro body Business for Sterling, said: "This survey shows what Bradford businesses have suggested.

"There is no clear majority to join the Euro, but there is a strong feeling that it is a fait accompli and that we will be bounced into joining whether it is right for jobs or competitiveness."

Out of 126 firms surveyed in Bradford, 31 per cent urged Chancellor Gordon Brown to join immediately or commit in principle to doing so. The survey also showed nearly a quarter felt the position should be kept under review, 23 per cent said Britain should not join immediately, and 19 per cent said we should stay as we are.

Mike Willet, area manager for HSBC in Bradford, said: "There are always winners and losers but there will always be opportunities. Euro interest rates are running two to three per cent below Sterling.

"If a Bradford business has a Euro income system it may be able to borrow in Euros, creating a natural hedge against foreign exchange risk."

The national survey was conducted for British Chambers of Commerce and showed 38 per cent of the 7,000 firms questioned were in favour of joining the single currency immediately or believed in making a commitment to join.

Only five per cent definitely wanted to join straight away but 36 per cent ruled it out completely. Some 24 per cent said they believed the issue should be kept under review.

Mike Cartwright, policy executive at the Chamber, added: "The business community is clearly unconvinced about the supposed benefits of joining the Euro. Concerns such as higher taxes and more regulation shows that there are still many unresolved issues concerning our members.

"Tax harmonisation and reductions in the level of red tape would be a start towards persuading businesses - though, as we have seen in the Budget, the Government is failing to bite the bullet."

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