UK Must Leave Europe

UK Must Leave Europe.

Former Chancellor of the Exchequer, Lord Nigel Lawson, has suggested in an article, now flooding across the web that the UK should leave the European Union.

Lord Lawson was Chancellor under Margaret Thatcher who introduced us to PEPs, the Personal Pension Plan and TESSA’s (the forerunner to Cash ISAs).

He was also the man that took us in the European Exchange Rate Mechanism, then had to increase interest rates by 5% overnight to protect Sterling from currency speculators, which hit many hard in the late 1980’s with mortgage rates at 15-16%.

Lord Lawson has suggested that any negotiations on budget cuts and opt outs for UK will be of little benefit compared to the longer term increased funding and expense of the UK being in the EU.

Our view
Tough one to call. In the short term, it will of course be more expensive for the UK to remain in the EU as the troubles of many EU nations are got to grips with.

We suggest the area that has not been considered is the fact that Europe is currently on free trade negotiations with both the USA and Japan.

A free trade agreement with two of the World’s top 4 largest economies is clearly something that the UK needs to be part of.

We believe leaving Europe is a shortterm view and our best strategy is to continue with austerity measures tobalance Britain’s books and remain in Europe for the long haul to benefit from free trade throughout Europe and hopefully the USA and Japan and to then continue developing relationships with India, China and Russia.