Oral Answers to Questions

William Cash Excerpts

Wednesday 12th December 2012 Commons Chamber

[The Prime Minister]

First, let me make the point that this Government have set up a green investment bank within two years, whereas the Labour party did nothing about that for 13 years. Secondly, even at a time of fiscal difficulty because of the mess we were left, we put £3 billion into the green investment bank, so right now it does not need to borrow because it has the money to invest. I think that what is needed in green investment is that equity risk finance, and that is exactly what the green investment bank can provide.

[Mr William Cash (Stone) (Con)]

My right hon. Friend goes to the summit tomorrow. Has he noticed in President Barroso’s blueprint for federalisation of Europe the following sentence: “The European Parliament, and only it, is the parliament for the EU, ensuring democratic legitimacy for the EU”? Does he agree with that or repudiate it, and what will he say to the other leaders at the summit tomorrow?

[The Prime Minister]

I agree with my hon. Friend on that one, not President Barroso, for this reason: it is the national parliaments that provide the real democratic legitimacy within the European Union. When we are discussing banking union, it is to this House that we should account. When we are discussing the European budget, it is to this House, which represents our taxpayers, that we should account. I always bear that in mind when I am negotiating, as I will be tomorrow at the European Council.