But we need to show that the EU can modernise itself, can adapt to the needs of its citizens, can take their views into account. That will be our ambition for the UK Presidency.

More than 50% of significant new regulations that impact on business in the UK now emanate from the EU.

Our aim, during our Presidency in the next six months will be to lead this challenge, to show that Europe can function in a mature and responsible way, to start delivering tangible results that show we are taking people's concerns seriously.

Having decisions made not in midnight deals but in the light of objective evidence and after consulting those who will be affected should itself provide some reassurance that the EU is trying to reform itself.

UK vetoes EU Treaty: Once an Island, always an Island.

Our objective must therefore be to ensure EU better regulation contributes towards delivering a modern European Union which relentlessly focuses on building a dynamic and innovative economy equipped to meet the challenges of the 21st century.