Monday 2nd July 2012

(12 years, 4 months ago)

Commons Chamber
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Lord Cameron of Chipping Norton Portrait The Prime Minister
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I am not aware of any City institutions that want that. On the whole, the City institutions want to ensure that our position in the single market is safeguarded. I am not a mercantilist, but it is worth noting that the one sector in which we have a massive current account surplus with Europe is financial services. It is therefore important that we ensure we safeguard the interests of that sector.

David Evennett Portrait Mr David Evennett (Bexleyheath and Crayford) (Con)
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I welcome my right hon. Friend’s statement. Does he agree that we must continue to battle for radical and substantial reform of the EU and not be deflected from our national interests of trade and the single market?

Lord Cameron of Chipping Norton Portrait The Prime Minister
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My hon. Friend puts it extremely well. We should pursue the national interest. The key argument is membership of and influence over the single market. That lies at the heart of our case for being in the EU.