European Council

Thérèse Coffey Excerpts

Monday 22nd October 2012 Commons Chamber

[The Prime Minister]

This is an ingenious idea that others are also pursuing. It is a complex picture, because Britain is one of the few net contributor nations. We need to look at the starting point. We are the second largest net contributor, which is why our rebate and our tough position on that policy is completely justified.

[Dr Thérèse Coffey (Suffolk Coastal) (Con)]

The Prime Minister is being accused of being an isolationist, when, in fact, we do not need to be part of the banking union discussions because we are never going to enter the currency. Will he confirm that, on a lot of other points, we are at the heart of the discussion, including on keeping the European budget down?

[The Prime Minister]

My hon. Friend makes an extremely intelligent point. The creation of the single currency has created a different dynamic in Europe. Inevitably, if countries are not in and do not want to join the single currency, they will not be involved in every single discussion about the future of the single currency. That is what has created different pathways in the European Union. We must be mature about and accept that fact, and think, “Now we know it, how can we best protect and defend the British interest in the EU?” She makes a very important point.