Victory at the ECJ shows Britain can still make its voice heard in the EU.
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Forget leaving - Britain does best at the heart of Europe

Victory at the European Court of Justice shows Britain's interests are best served fighting its corner in Europe, not sulking on the sidelines

This week, Britain won a historic legal battle in Europe when proposals that would have banned large-scale trading in euros from taking place outside the Eurozone were struck down by the EU's General Court. The proposals, put forward by the European Central Bank, would have forced UK firms handling large trades in euros to relocate to the eurozone, most likely to financial centres such as Paris or Frankfurt. With around 40 per cent of euro-denominated trading taking place in the UK, more than any other EU country, that would have had a dramatic impact on the British economy. Today's ruling will secure London's status as Europe's financial capital and uphold a level playing field for all countries in the EU's single market, whether they are inside or outside the eurozone.

It is also a powerful example of why the UK must remain in the EU if we are to properly defend our economic interests. Had the UK not been an EU member, we would not have been able to challenge this potentially damaging proposal and see it revoked. Those advocating EU exit have to explain how they would defend British interests by robbing the UK of its influence at Europe's top table. From the fight against climate change to financial regulation, decisions taken in Brussels will continue to profoundly affect the UK whether we remain in the EU or not. The truly patriotic approach is not to retreat to the side-lines, but to continue fighting our corner.

Some eurosceptics will point to deepening integration in the eurozone as a sign of why we must leave the EU. But if anything, today's ruling shows that the opposite is true. Now more than ever, the UK has to retain its influence in the EU and ensure that there is no discrimination in the single market between eurozone and non-eurozone members. More ambitiously, we have to make sure that the internal market is expanded and modernised to areas where the UK excels such as the digital economy, as outlined by Vince Cable last month. By setting a positive agenda for reform, Britain can lead in Europe and ensure the single market remains the EU's central and defining feature.

 

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Why it's a mistake to assume that Jeremy Corbyn has already won

The shadow chief secretary to the Treasury on why the race to be Labour's leader is far from over.

They think it’s all over.

But they’re wrong.

The fat lady has yet to sing.

The commentary and reporting around the Labour party leadership campaign has started to assume we have a winner already in Jeremy Corbyn. The analysis, conjecture, predictions/complete guesswork about what happens next has begun in earnest. So we have seen speculation about who will be appointed to a Corbyn shadow cabinet, and “meet the team” pieces about Jeremy’s backroom operation.

Which is all very interesting and makes for the usual Westminster knockabout of who might be up and who might be going in the other direction pdq...

But I think it’s a mistake to say that Jeremy has already won.

Because I hear that tens of thousands of Labour party members, affiliates and registered supporters are yet to receive their ballot papers. And I am one of them. I can’t remember the last time I checked my post quite so religiously! But alas, my papers are yet to arrive.

This worries me a bit about the process. But mostly (assuming all the remaining ballots finally land in enough time to let us all vote) it tells me that frankly it’s still game on as far as the battle to become the next leader of the Labour party is concerned.

And this is reinforced when we consider the tens of thousands who have apparently received their papers but who have yet to vote. At every event I have attended in the last couple of weeks, and in at least half of all conversations I have had with members across the country, members are still making their minds up.

This is why we have to continue fighting for every vote until the end – and I will be fighting to get out every vote I possibly can for Yvette Cooper.

Over the campaign, Yvette has shown that she has a clear vision of the kind of Britain that she wants to see.

A Britain that tackles head-on the challenges of globalisation. Instead of the low-wage low-skill cul-de-sac being crafted by the Tories, Yvette's vision is for 2m more high skill manufacturing jobs. To support families she will prioritise a modern childcare system with 30 hours of fully funded child care for all 3 and 4 year olds and she will revive the bravery of post war governments to make sure 2m more homes are built within ten years.

It's an optimistic vision which taps into what most people in this country want. A job and a home.

And the responses of the focus groups on Newsnight a few days ago were telling – Yvette is clearly best placed to take us on the long journey to the 2020 general election by winning back former Labour voters.

We will not win an election without winning these groups back – and we will have to move some people who were in the blue column this time, to the red one next time. There is no other way to do it – and Yvette is the only person who can grow our party outwards so that once again we can build a winning coalition of voters across the country.