Local Conservative MEP Marina Yannakoudakis welcomed the outcome of today’s EU Summit in Brussels which will, for the first time ever, see the EU budget cut.

 The £29 billion (€34 billion) cut will mean that the European Union will be forced, like national and local governments, to reduce its spending at a time of austerity.

 Marina said: “David Cameron got an agreement in Brussels that Londoners can be proud of.

 “We need an EU which is leaner and less bureaucratic and by cutting the budget the EU institutions will be forced to improve their efficiency.

 “I shall certainly be voting for this budget deal when it comes before the European Parliament and I hope that a majority of MEPs will recognise that this is a good deal for their citizens and vote with me.”