BoJo on the money with City backing

UKIP leader Nigel Farage today strongly backed Boris Johnson's call to defend the City from harmful EU regulation.

“Boris is bang on the money about this”, said Farage, “It's just a pity that his Tory colleagues have failed to support him.

Farage was talking about legislation passed in the European Parliament last year that called for the European Union to create the regulation now being opposed by Mr Johnson, the London Mayor.

In September the Conservative MEPs were whipped to support legislation written by the socialist former Prime Minister of Denmark, Poul Nyup Rasmussen which provided the base for these draconian laws. The Hedge Funds and Private Equity Report passed by a massive majority in Strasbourg was designed to punish the City rather than to improve its actions.

Talking to Mr Farage about it, its author Rasmussen infamously said, “We don't like your Anglo-Saxon capitalism”.

“Most continental politicians accept that the business driven out of the city by this legislation will not move to Frankfurt or Paris but will leave the European Union altogether for Geneva or the Bahamas, but that doesn't matter. What matters is damaging British interests. It is a simple beggar thy neighbour approach”, said Farage.

“It is sad, but Oh so normal that the Tories in Europe fall into line with Continental aspirations, even when they are in direct contradiction of British interests. So while we back Boris to the hilt we suggest that he should e apportioning lame where it lies, Not so much in Brussels but at the door of his Conservative friends and Dave himself."

(BERR) UK stands firm on working time opt-out

Brussels talks on the EU Working Time Directive broke up in the early hours of this morning without agreement, with the UK successfully resisting pressure to accept the removal of the right to opt-out of the maximum 48-hours week.

A meeting of the EU's Conciliation Committee was unable to resolve differences between the European Parliament and member states over whether to retain the opt-out or not.

The UK and other countries held firm against a European Parliament amendment to the Working Time Directive that would have phased out the opt-out in three years.

Employment Relations Minister Pat McFadden said:

"We have said consistently that we would not give up the opt-out and that continues to be the case.

"We argued that everyone has the right to basic protections surrounding the hours that they work, but also the right to choose those hours.

"Choice over working hours has operated successfully in the UK and in other Member States for many years.

"In the current downturn it is more important than ever that people keep the right to put more money in their pockets by working longer hours if they wish. We refused to be pushed into a bad deal for Britain."

Talks will now be reconvened for later this month, although it will clearly be a challenge to bridge the gap between Member States and the European Parliament.