Prime Minister David Cameron told the House of Commons he was hopeful of a budget deal with EU leaders, but that the deal offered last week in Brussels "was simply not good enough". He said:
"We need to cut unaffordable spending, the deal on the table was not good enough and that is why we did not take it."
"As I have said before, the EU must find ways to cut administrative costs. The EU institutions have simply got to adjust to the real world."
"It is in our interests to get a deal, we will push harder for a reduction in the next summit. We are fighting hard for the best deal for Britain and that is what we will continue to do."