Mr William Cash (Stone) (Con): The Prime Minister referred to economic recovery. There are currently as many as 30 European directives in the pipeline which will deeply affect our financial regulation and economic governance, nearly all of which are by qualified majority voting and co-decision. There is also the issue of European social and employment legislation. How will my right hon. Friend-and, of course, the Chancellor tomorrow-regain and retain control over those economic issues?
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The Prime Minister: My hon. Friend makes a very good and reasonable point. There are threats to our competitive position coming from the European Commission and, more particularly, from the co-decision procedure and the great strength that had been given to the European Parliament under the Lisbon treaty. It makes our work harder, I have to be frank. In relation to the de Larosière package on financial regulation, a reasonable compromise was reached, but the European Parliament has unpicked that and made it much more burdensome from the British point of view. Now, there is no alternative to having to fight back to the compromise that we left. It is not a satisfactory situation. One thing on which my hon. Friend and I agree is that the Lisbon treaty was not a step forward.
Co-decision? Er...this was changed in the Lisbon Treaty to Ordinary Legislative Procedure. Cameron I'm not surprised didn't know this, but the long running euro-sceptic Bill Cash? He who can recite the Maastricht treaty off the top of his head? If he doesn't know...well... there's no hope at all is there?