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European Council

First, where I have some disagreement with my hon. Friend is that, although we of course want to export more to China, India, Brazil, Russia and Turkey—the fast-growing countries of the future—we have to recognise that today, 50% of our trade is with European Union countries. It is therefore in our interest not only to keep those markets open and have a say about their regulation, but to further open them up. That is what we should be pushing for and are pushing for in the European Union. As I say, there is a case for a referendum if ever this Parliament proposes to give up more powers. Otherwise, it is clear what the country wants us to do: it wants us to stay in the European Union, but to retrieve some powers and ensure that we have a better relationship with Europe. That is the commitment that we have made.