Video: EU summit: David Cameron says no to EU budget plans He said: "From a budget of nearly a trillion euros it is simply not acceptable to carry on tinkering around the edges, shuffling chunks of money from one part of the budget to another, we need to cut unaffordable spending, that is what's happening at home that is what needs to happen here." "We came to the table seeking the best deal for Britain and for Europe, our position is very simple, we cannot increase spending in the EU when we are cutting it at home, so we argued for a cut - at the very least a freeze - in spending," he added. Amid continued divisions between the big European powers, Herman Van Rompuy, the EU president, abandoned talks on the second afternoon of the summit. The seven year EU budget plan would be enforced from 2014.