Lord Lawson: UK should leave EU

<p>Lord Lawson will vote for the UK to leave the EU.</p>

Former chancellor of the exchequer Lord Lawson has indicated he will vote in favour of the UK leaving the European Union (EU).

The Conservative Party has promised a referendum on Europe if it wins the next general election and Lord Lawson stated he will vote for the UK to leave the EU.

Writing in the Times, he argued prime minister David Cameron is going to be unsuccessful in his negotiations to have powers returned to the UK from Europe, as this would lead to other member states deciding to make the same demands.

"The heart of the matter is that the very nature of the EU and of this country's relationship with it, has fundamentally changed after the coming into being of the European monetary union and the creation of the eurozone," said Lord Lawson.

Europe continues to be a divisive issue among Britons and at the local elections last week anti-Europe party UKIP – led by Nigel Farage – enjoyed major success.

Lord Lawson added that wanting to leave the EU does not mean that he is against Europe.

Learn about the sterling and forex trading at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.