LONDON, January 23 - RAPSI, Alexander Smotrov. Britain may hold a referendum on whether Britain should leave the European Union, UK Prime Minister David Cameron said on Wednesday.

The referendum could take place after London and Brussels have finished drafting a new pact delineating their powers.

"And when we have negotiated that new settlement, we will give the British people a referendum with a very simple in or out choice to stay in the EU on these new terms; or come out altogether. And if a Conservative government is elected… we will complete this negotiation and hold this referendum within the first half of the next parliament", Cameron said in his policy speech on his vision for EU-UK relations.

The next parliamentary term in Britain is from 2015 to 2020. Analysts suggest the referendum could take place around 2017-2018.