David Cameron said the new budget agreed by European Union leaders was "a good deal for Britain".
"The best way to protect the British taxpayer is to get overall spending down, which we've done. Our contributions were always going to go up, now they'll go up by less," said the Prime Minister.
"I think the British public can be proud that we have cut the seven-year credit card limit for the European Union for the first time ever."
The EU budget deal is victory for David Cameron, but perhaps more accurately a victory for northern Europe over the south.
The EU president will unveil 'exciting' new budget proposals, but getting northern and southern bloc countries to agree will be tricky.