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EU budget deal agreed

European leaders have reached a deal on a €908 billion (£773 billion) EU budget for the next seven years, at a summit in Brussels.

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Labour welcome EU budget cut

Members of the shadow cabinet welcomed news that a deal has been done in Brussels to cut the European Union's long-term budget.

The Shadow Chancellor Ed Balls said:

At a time when taxes are being raised and services cut at home it cannot be right that the EU Budget should rise in line with inflation.

That’s why last year Parliament and Labour MPs voted for a real terms cut in the EU Budget. The House of Commons gave David Cameron a clear mandate to negotiate for a real terms cut, even though he resisted it at the time.

We welcome news that a deal has been reached. Failing to agree one could have seen next year's budget go up automatically.

It seemed at times that David Cameron was ready to throw in the towel and aim for a freeze, but today's deal proves that a cut was worth voting for in Westminster and worth negotiating for in Brussels.

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