Britain would still have a healthy economy even if it left the European Union (EU), thanks to a “free trade” deal with its former partners, the economic spokesman for the UK’s main Euroskeptic party told CNBC.
Nigel Farage’s UK Independence Party (UKIP), which advocates immediate withdrawal from the EU, won the biggest proportion of the U.K. vote in this weekend’s European parliamentary elections, beating more established parties to a 27.5 percent share.
Steven Woolfe, UKIP economic spokesperson and one of the party’s new MEPs, dismissed fears that a U.K. outside the EU would suffer. One concern is that the City, which makes up a sizable part of the U.K. economy, would lose its ability to offer its financial services to other parts of the EU if Britain quit the 28-country group.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.