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.
"While the City is important to us," Woolfe said, a free trading deal with the rest of Europe would make Britain "the largest trading partner of their goods into us."