Debt crisis: live - Telegraph I want a cut in the EU budget, David Cameron does...[but] is a deal better than the alternative? We want the best possible deal for Britain. It will only come to a vote if there is a good deal to put to the House of Commons. There will be a real choice. Last night was about tactics and the start of the negotiation. 08.29 So last night David Cameron suffered a stinging defeat over the EU budget. The defeat came after more than 50 Conservative rebels were joined by Labour MPs in supporting a demand for real-terms reductions in spending by Brussels. James Kirkup reports: The Government was defeated by 307 votes to 294, a majority of 13. Commons sources estimated that 51 Tories voted against the Government, with two more acting as tellers. The vote was Mr Cameron's second major Commons defeat over Europe and led to warnings that division in the Conservative Party over Europe could hamstring him as it did Sir John Major during the 1990s. The vote is not binding, but will put Mr Cameron under intense pressure to take a harder line in talks on the EU budget at a summit in Brussels later this month. 08.15 Good morning and welcome to Debt Crisis Live.