12:36 16 May 2013
Lord Nigel Lawson, who promoted the housing bubble that burdened the UK economy for five years, is again in a fighting mood - this time insisting on his idea of the UK leaving the EU.
Lawson believes that it will be more advantageous economically for UK to leave the European Union. He feels that the British industry and businesses have become complacent and dependent in the “warm embrace” of the single market so that they do not any more look beyond for other markets for export opportunities.
Lawson looks at Asia as the emerging markets and dismissing EU which he now considers as way past “past its sell-by date”. However, totally giving up on your European neighbours, your major partner and largest market in the world could not a good idea either.
Why should there be a contest between Asia and the EU? Departure from the EU may be disadvantageous and not helpful to the UK.
Presently global companies put their investments in the UK economy knowing that it is one of the leaders in EU economy which speaks as its first language the international business language.
If the UK leaves the embrace of the EU, it would lessen its value as a European centre could be diminished. Global offices and their key personnel could choose to house their headquarters in another European country which is an EU member.
UK businessmen are not in favour of weakening ties with the rest of Europe.
Admittedly, the EU bureaucracy can be a bit of annoying and the annual membership contribution of 8 billion pounds can stand a little trimming down. The matter of financial transaction tax can be opted out and UK economy will certainly do so.
UK’s relationship with has not been totally smooth sailing, however, all in all it may offer what Britain ultimately needs. Britain enjoys the benefits of being a member of EU without the danger of using the euro currency. It is not a participant in the EU bailouts and other unwise decisions.
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