FEARS that the vote to leave the EU could trigger the closure of Carlisle's Pirelli tyre factory are unfounded, the chief executive of Cumbria Chamber of Commerce says.

Carlisle's former Labour MP, Eric Martlew, predicted before the referendum that the factory would close “within five years” if there was a leave vote.

And Cumbria County Council leader Stewart Young said after the result: "For businesses like Pirelli it's worrying.

“These international businesses want to sell in Europe. They don't want to manufacture in a country that does not have access to European markets.”

But Rob Johnston, chief executive of Cumbria Chamber of Commerce, does not believe that the factory, which employs 750 people, is at risk.

The fall in sterling since the referendum benefits exporters such as Pirelli because it makes their products cheaper in overseas markets.

Mr Johnston said: “Pirelli isn't here just because we are in the EU but because we have a high quality, skilled workforce.

“Will they leave? I'm not convinced that will be the case. The cost of moving the plant to Europe would be phenomenal.”

He hopes that the UK will be able to strike a deal with the EU that will allow the likes of Pirelli to sell their products without incurring tariffs.

He added: “Germany will want to do a deal because we are one of their biggest markets.”

Tourism is one of Cumbria's biggest businesses, worth an estimated £2.6bn a year.

Ian Stephens, managing director of Cumbria Tourism, does not expect an immediate impact on the sector.

The weakness of the pound will help but he expects that to be “a short-term reaction” to the leave vote.

He said: “If it is cheaper for foreign tourists to come to the UK, we will exploit that opportunity and concentrate on attracting people from overseas.

"If it is more expensive for UK nationals to go abroad, we will also push the 'staycation'.”

He pointed out that many Cumbrian tourism businesses have come to rely on employing migrant workers from other EU countries.

He added: “We will lobby to protect freedom of movement and freedom of travel and the ability for people to recruit from countries in the EU.

“We would like to keep that as liberal as possible.”

Meanwhile David Hymers, who runs Totalpost Services in Alston, a former winner of the Queen’s Award for Enterprise in international trade, was pleased with the referendum result.

He said: “From a business perspective we are extremely resilient in this country.

"My own business in a small way has been planning for an either way vote for the last 24 months.

“I'm not worried by the immediate reactions of the stock exchange or the dollar/pound rate, they will bounce back.

"I think it will take a number of people a long time to get used to the new situation.

“As time goes on, I am hoping that everybody who voted to remain will accept the verdict that has been given on an extremely high turnout.

“There are lots of good reasons for the result and people just have to get used to it and move on.”

He also said several of his staff had contacted him to say they were pleased with the result.