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EU Council

I am grateful to the noble Lord for what he said about progress on regulation. We keep chipping away at this and there has been progress. The fact that seven countries joined the UK in lending support to the report produced by the British Business Task Force shows that there has been a shift. The Prime Minister has been working hard in that respect, particularly with Chancellor Merkel. I am also grateful to the noble Lord for what he said about how vital the EU-US talks are. I understand the noble Lord’s views on banking union. Obviously, the Government take a different view and their position has not changed as a result of the recent European Council.