MP signs Telegraph letter on EU negotiations

Steve Brine joined a number of colleagues in writing a letter to the Daily Telegraph urging David Cameron to defend the City of London against EU measures that threaten the economy.

The Winchester & Chandler's Ford MP joined 29 MPs and Lords imploring the Government to 'fight our corner' as European proposals, including a unilateral EU-wide financial transactions tax, pose a 'grave threat' to the UK's financial services industry.

Other EU proposals include a ban on some short-selling and a European Central Bank idea that transactions on euro-dominated financial products are only cleared in the eurozone.

The Prime Minister is currently (Thursday 8th December) travelling to Brussels, where he will attend a key EU summit to discuss the current eurozone debt crisis. A Downing Street spokesman has announced that while Germany and France want a new EU treaty, Mr Cameron has said he will block one that does not protect UK interests. He added that the Prime Minister would also seek safeguards for UK interests, inclusing financial services.

Steve Brine said: "As we say in the letter, it is vital that we argue for either a new EU-protocol or a Britain-specific safeguard. Without this strong action, the present drift seriously threatens revenues to the Exchequer and, of course, jobs here in Britain."

More information...

Take a look at the joint letter here.