David Cameron 'would veto' EU budget

[Gerald]

Prime Minister David Cameron has said he would veto a new European Union budget "if necessary".

Mr Cameron also told the BBC that the EU should have two different budgets - one for countries in the eurozone and one for those outside the single currency, including Britain.

The EU is beginning negotiations on its next budget for 2014 to 2020.

Last year Mr Cameron vetoed an EU-wide treaty to co-ordinate budget policies and impose penalties on rule-breakers.

Speaking on the Andrew Marr show on the first day of the Conservative Party conference, Mr Cameron said he would block talks if "massive increases" in the budget were proposed or if a deal that "does not have proper control" was put forward.

He said countries could not go on pouring money into the EU while cutting their own national budgets.

http://www.bbc.co.uk/news/business-19862239


Note: 7 October 2012 Last updated at 10:02 GMT