Miliband: EU referendum 'unlikely' if Labour wins election

Labour leader Ed Miliband has effectively ruled out a referendum on Britain's membership of the EU, pledging that he would only hold one in the “unlikely” event that Westminster had to transfer more powers to Brussels.

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Victor Blank: EU uncertainty 'disastrous' for business

Businessman Sir Victor Blank has welcomed Ed Miliband's "sensible" pledge to offer voters an EU referendum if there is a proposed transfer of powers from Westminster to Brussels.

The former Lloyds TSB chairman expressed strong support for British membership of the EU, saying the prospect of an exit was "horrific".

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Labour donor: Miliband move 'a step in right direction'

One of Labour's biggest donors, John Mills, has said Ed Miliband's pledge to hold an EU referendum if there is a transfer of powers from Westminster to Brussels is "a step in the right direction".

However, Mr Mills has been clear that he would like Labour to promise an in/out referendum.

He said this morning: "I think we should recognise that the growth of the EU's influence over Britain in the past 40 years warrants a referendum regardless of future events."

Ed Miliband: We gain more from being part of EU

ITV Deputy Political Editor Chris Ship has been tweeting from Ed Miliband's speech this morning on the European Union.

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Cameron: EU pledge 'makes no sense whatsoever'

David Cameron has attacked Ed Miliband's EU referendum pledge, saying it makes "no sense whatsoever".

The Prime Minister told reporters on a flight to Israel: "It is not a proposal for an in/out referendum. It is a policy clearly designed by a committee who obviously couldn't agree what to do and have come up with a policy that makes no sense whatsoever."

David Cameron speaking at an EU summit in Brussels last week Credit: Geert Vanden Wijngaert/AP/Press Association Images

He added: "It is absolutely clear - if you get Miliband, you don't get a referendum, you don't get a choice.

"It is the classic Labour 'we know best' approach to politics."

Miliband: UK should stay in the EU but it must change

ITV News Deputy Political Editor Chris Ship is at Ed Miliband's speech setting out Labour's position on an EU referendum:

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