Conservatives Rebel Against Rising EU Budget

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Conservatives Rebel Against Rising EU Budget

Conservatives Rebel Against Rising EU Budget



As November gets underway and we really turn into the winter months, Our Dave knows that there will be trouble ahead for him.

Last night's successful rebellion against a rise in the EU budget by his own MPs, along with Labour's support, has put the PM in a tricky position.

He will have to go to the EU in a couple of weeks and prevent a large increase in the budget, and possibly even fight for a cut, or he'll face further problems at home.

Once again, the issue of Europe is splitting the Tory party, but it also serves as a reminder than the opposition is just as split on the matter, having presided over years of above inflation increases.

Of course, we are seeing plenty of cuts and austerity at home as well as across Europe. As a result, many will see the argument that the largely unaccountable overseeing institutions should also show some restraint.

As if that isn't going to be bad enough for Our Dave, his best buddy George will then have to deliver a very important Autumn statement in December.

At least the better-than-expected GDP numbers are something good to talk about but, considering his track record, there's bound to be some sort of slip up or gaff.

Rather like many people in the City and the financial markets, the Coalition will be desperate to see the end of 2012 and hoping that 2013 will be a better year.

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By Simon Denham, 1 November 2012


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