Britain’s future prosperity is not in the EU but with other countries, an MP has warned.

People are too obsessed with being part of the European Union, wrongly believing it is in the best interest of business, Shipley, Menston and Burley in Wharfedale MP Philip Davies said.

Speaking in Business and Innovation question time in the Commons, he said: “Our future prosperity as a country depends on trading with China, India, South America and emerging economies in Africa and that is where all the future growth in the world economy will be, rather than being part of a backward-looking, inward-facing protection racket called the European Union.”

Mr Davies has repeatedly called for Britain to leave the European Union and hopes the country will vote to leave in an In-Out Referendum promised by David Cameron by 2017 if he wins the next election.

Business Minister Michael Fallon said: “I do not wholly agree there are high growth opportunities the world over. But the single market that our business has access to through the European Union is still a very important part of our trading relationship.”