Lord Owen’s proposals for a new ‘European Community’ would be the worst of all worlds for Britain, says UKIP.

Owen’s idea to create a new ‘two-speed Europe’ would simply shackle the UK to a centrally-controlled economy in long term decline, according to the UKIP.

“This would be the worst possible option for us, and is utterly unnecessary”, said UKIP Deputy Leader Paul Nuttall.

“Lord Owen suggests, like David Cameron, that the core EU countries should continue in their project to form a single, centrally-controlled European economy – the so-called ‘Fiscal Union’ – but that we should be in a looser ‘European Community’, including countries like Iceland and Turkey.

“Yet we would still be subject to all the damaging rules of the bureaucratic ‘single market’, controlling employment regulations, free
movement of labour, tariff barriers etc, while the main economic decisions would be made by the German-controlled Fiscal Union.

“Europe’s economy is in long-term decline. Finding new and ever more imaginative ways of tying ourselves to it is simply crazy. Britain’s
economic future lies in the Anglosphere, the Commonwealth and the emerging economies, where we can once again flourish.

“People forget that the UK is the world’s 7th largest economy, and one of the top 10 manufacturers, with expertise that is in demand the world over. We must cut ourselves free from the sinking Titanic of the failed EU project.

“George Soros said this week that the EU would evolve into a German financial empire with a ‘depressed hinterland’ around it.

“Why would we want to be part of that?.”