EU is bankrupting the UK.

Five weeks ago, at a marathon 32-hour Brussels summit, David Cameron secured a reduction in long-term European spending plans, the first in the EU’s history.

The Prime Minister hailed the EU cuts as the implementation of long overdue austerity in Brussels at a time when national governments were cutting back on spending.

The European Parliament demands, which hold the spending deal hostage until MEPs agree, could cost the British taxpayer up to £1.7 billion in extra EU contributions in 2013 at a time of deep cuts to domestic public spending.

“The European Parliament cannot accept the proposal from the member states without the fulfilment of certain essential conditions,” said Martin Schulz, the speaker of the EU assembly.

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