The Prime Minister made a statement in Parliament today about his decision to use the British veto to oppose a new EU treaty on fiscal union.

Commenting on the controversial move, the Pavilion MP said:

"It is bitterly ironic that the Prime Minister claims he wielded his veto to protect the interests of the city of London, when it is precisely the City's loose and unregulated financial system that has been so much part of the economic problem.

"The recklessness of the private financial system has contributed significantly to the rise in public debt. Until we properly regulate the global banking system, there can be little hope of even the European Court of Justice imposing ‘budgetary discipline'.

"We must not fall into Cameron's trap of conflating the national interest with that of the financial sector. In these tough times, people in my constituency need strong, fair and sustainable policies to stabilise the economy, create jobs and benefit the majority - not just the few."

ENDS