You do not have to be an economist to know that putting up the cost of employing someone is a pretty barking thing to do when you're trying to get out of a recession.

After the Berlin Wall came down I visited that city and I will never forget it. The abandoned checkpoints. The sense of excitement about the future. The knowledge that a great continent was coming together. Healing those wounds of our history is the central story of the European Union.

Over the longer term, the institutions and powers of the EU will continue to expand and certain policymaking powers, heretofore vested in the member states, will be delegated or transferred to, or pooled and shared with EU institutions. As a result, the sovereignty of the member states will increasingly be eroded.

In a global race, can we really justify the huge number of expensive peripheral European institutions? Can we justify a commission that gets ever larger? Can we carry on with an organisation that has a multibillion pound budget but not enough focus on controlling spending and shutting down programmes that haven't worked?

Just as I believe that Britain should want to remain in the EU so the EU should want us to stay.

What Churchill described as the twin marauders of war and tyranny have been almost entirely banished from our continent. Today, hundreds of millions dwell in freedom, from the Baltic to the Adriatic, from the Western Approaches to the Aegean.

I mean, I'm a conservative. I believe that, you know, if you borrow too much, you just build up debts for your children to pay off. You put pressure on interest rates. You put at risk your economy. That's the case in Britain. We're not a reserve currency, so we need to get on and deal with this issue.