Top business leaders back Tory-led government and warn Labour threatens Britain's economic recovery

More than 100 business leaders have declared their support for a Conservative-led government, warning any "change in course" after the general election would "put the recovery at risk".

In an open letter to the Daily Telegraph, senior executives of leading British firms - including BP and Prudential - praised the Government's economic strategy, saying it had created jobs and showed "the UK is open for business".

Among the 103 signatories was at least five business leaders who previously backed Labour, including ex-Dragons Den star Duncan Bannatyne, the Telegraph said.

The business leaders highlighted what they called George Osborne's "progressive" decision to lower corporation tax to 20%.

“We believe a change in course will threaten jobs and deter investment," the letter stated.

"This would send a negative message about Britain and put the recovery at risk.”

Executives from retailers Iceland, Ladbrokes, Costa Coffee, Ted Baker, Mothercare and Pizza Express also supported the letter.

The intervention comes after official figures released yesterday showed the UK economy is growing faster than expected and household disposable income had risen to levels not seen since the coalition came to power in May 2010.

The open letter from business leaders in full