David Cameron takes a swipe at Boris Johnson in EU statement to Commons

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David Cameron vowed to fight “passionately” to stay in the European Union today as fears of a Brexit triggered a plunge in the pound.

The Prime Minister also took a swipe at the Mayor in a punchy Commons performance.

The Prime Minister used a statement to MPs to dismiss the idea - reportedly floated by Mr Johnson - that a Leave vote could be a prelude to securing a better deal in a second referendum.

He mocked Mr Johnson’s claim that a second referendum could be staged if a better deal was offered, saying: “I don't know any [couples] who have begun divorce proceedings in order to renew their marriage vows."

In a jibe at the Mayor's ambition to succeed him as PM, Mr Cameron told the Commons he had "no agenda" other than the national interest, implying Mr Johnson was using the referendum for cynical advancement up the greasy pole. "I am not standing for re-election,” he said.

“I have no other agenda than what is best for our country. I am standing here today telling you what I think.”

Mr Johnson hit back by demanding “in exactly what way this deal returns sovereignty over any field of law-making to these Houses of Parliament".

Mr Cameron that his deal restored “some” power over welfare, immigration and bail-outs.

Meanwhile, Sterling suffered its biggest one-day fall in over a year as in-vestors showed their nerves that the “Boris Effect” had dra-matically increased the chances of Britain leaving the EU.

More ominously, ratings agency Moody’s said the UK would be put on “negative outlook” if the Leave campaign wins the referendum on June 23 — potentially raising the cost of borrowing for businesses and homeowners.

An exclusive poll reveals the first evidence that Mayor Boris Johnson’s electrifying intervention on the side of the Out campaign has already thrown the result into doubt.

Early findings from the BMG Research survey, for the Evening Standard, suggest that up to nine per cent of the electorate are willing to change their minds on the strength of what he says. It leaves the referendum on a knife edge.

Mayor Boris Johnson said little to a media scrum at his home this morning
PA

In a Commons statement this afternoon, a defiant Prime Minister was fighting back. “I believe Britain will be stronger, safer and better off by remaining in a reformed EU,” he was expected to say, pledging: “I will make this case passionately over the next four months.

“Stronger because we can play a leading role in one of the world’s largest organisations from within, helping to make the big decisions on trade and security that determine our future.

"Safer because we can work with our European partners to fight cross-border crime and terrorism. And better off because British business will have full access to the free-trade single market, bringing jobs, investment and lower prices.”

Responding to the market jitters, a Downing Street spokesman said: “The Prime Minister has been very clear, particularly over the last few days, of the risks of uncertainty of a vote to leave and that a vote to remain is what is in the interest of our economic and national security.”

This morning the Mayor said little to a media circus camped outside his north London home.

“There’ll be plenty of time to talk about Europe and the great future Britain can have outside the European Union in the next few weeks,” he said before speeding off to City Hall.

But even as he spoke, the City was reacting with alarm to the changing odds on a Brexit. In trading in London, the pound suffered its biggest drop in a single day since January 2 last year. It was down 0.298 cents (1.6 per cent) to $1.4106.

Sterling fell against all 16 major currencies, including the euro, reversing a gain seen on Friday when the Prime Minister secured a deal with other European leaders on reformed EU membership terms.

Goldman Sachs Group said recently that a Brexit would drive the pound down to $1.15-$1.20, which are levels last seen in 1985.

London Stock Exchange Group chief executive Xavier Rolet said Brexit would be “the great unknown”, telling CNBC: “We just simply do not know what Brexit means.”

FxPro chief economist Simon Smith said: “I don’t think investors are saying Brexit is good or bad, but it’s the uncertainty.”

Dr Michael Turner of BMG Research said the poll, conducted over the weekend, had increased the uncertainty of the referendum.

When a random sample was asked how a Boris recommendation to leave would affect their vote, the Stay share plunged by nine per cent and the proportion of undecideds shot up by 10 per cent.

The effect was highest among young voters, those not normally interested in politics, and those who did not vote in last year’s election — indicating Mr Johnson reaches people who are beyond regular politicians.

Dr Turner said: “This is a direct effect of Boris. The Mayor is eating directly into the Remain campaign. It is not dir-ect switching ... but a significant group that had planned to vote Remain but becomes undecided. It suggests these people are suspending their verdicts until they hear what he has to say.”

Speculation was swirling about Mr Cameron’s future if he were to lose the referendum.

Culture Secretary John Whittingdale bet TV host Piers Morgan £1,000 that he would remain Prime Minister even after a damaging defeat. But on BBC radio last night ex-minister Owen Paterson refused four times to say if Mr Cameron should keep his job after a Leave vote.

Six Cabinet ministers are backing an Out decision, including Michael Gove, and at least 140 Tory MPs. Later, Mr Johnson dismissed as “cobblers” claims that he was undermining jobs and growth in London by backing Leave.

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