David Cameron will have to give up some of Britain’s prized £3 billion rebate if he stands any chance of securing a freeze in the EU’s budget, President François Hollande of France has warned.
The Prime Minister yesterday vowed to veto any increase in the money handed to Brussels. But speaking at the European Parliament yesterday, Mr Hollande renewed his campaign to force Britain to give up part of the iconic rebate secured by Margaret Thatcher in 1984.
“I have been told a solution cannot happen with Britain,” he said. “But why should one country decide for 26 others? There are those who want to see cuts, others — possibly the same — who want guarantees on their own rebate.”
The stand-off does not bode