GETTY•TWITTER Winston Peters said British voters had a historic chance to correct the 'mistake'

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Winston Peters, a former deputy prime minister of his country, said British voters had a historic chance to correct the "mistake" of tying up with Brussels. Instead, they could benefit from lucrative new economic links with fast-growing economies in the wider world including those of historic friends and allies in the 52 other nations of the Commonwealth. "The Commonwealth could be a colossus. It has a diversity of markets the EU could only dream of, from first world economies to emerging markets with huge growth potential," Mr Peters said. The veteran Kiwi politician, who has been finance minister and foreign minister of his country, was in London to give his backing to the "leave" campaign for the EU referendum on June 23.

In a speech in the House of Lords, he said the Commonwealth was "now a dynamic power house, crossing every time zone and every trading session in the world" in contrast to the failing EU. The Commonwealth was a free association of nations based on friendship and trade links rather than top-down control like the EU, he said. Mr Peters, the 71-year-old founder of the New Zealand First party, gave a speech in the Lords following an invitation from Ukip peer Lord Pearson of Rannoch. "The choice the UK faces is between a Europe divided and indebted or trade with the emerging economies of the Commonwealth," he said. He urged British voters to ignore world leader including US president Barack Obama and New Zealand prime minister John Key.

TWITTER Winston Peters was in London to give his backing to the 'leave' campaign

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The Commonwealth could be a colossus Winston Peters

"This is a question for the British people alone," he said. "Britain taking a bold and courageous step back to the Commonwealth, with a fresh approach, is something the Commonwealth would respond positively to. "It would signal the dawn of a new age of Commonwealth economic advancement," he said. He told British voters: "You live in the UK, you pay taxes to Brussels and you are subject to European Union control. "Anyone who thinks that the economy of a nation that once led the largest empire in history will be suddenly laid to ruin upon leaving the EU is greatly mistaken."

GETTY Mr Peters gave a speech in the Lords following an invitation from Ukip peer Lord Pearson of Rannoch