Foreign Secretary William Hague said it is time for a "new settlement" between the UK and Europe. Speaking to delegates at the Conservative Party conference in Birmingham he said:
"Some people look at the crisis and say more Europe is the only answer; I profoundly disagree. Sometimes less is more, less is better. So we want less bureaucracy, less pointless or damaging interference, less meddling in the issues that belong to national democracies."
Speaking on the first day of the Tory party conference David Cameron rejected plans for a 'mansion tax' and signalled further budget cuts.
As the Conservative Party Conference begins David Cameron has already ruled out the controversial 'mansion tax' plans.
David Cameron today will pledge to use Britain's veto to block the European Union budget if it is not in the UK interest.