David Cameron says it is in Britain's fundamental interest to remain very close to the European Union when renegotiating a new relationship with the bloc it voted to leave in a referendum last month. (ROUGH CUT ONLY - NO REPORTER NARRATION)
(ROUGH CUT ONLY - NO REPORTER NARRATION) (SOUNDBITE) (English) BRITISH PRIME MINISTER, DAVID CAMERON, SAYING: "Above all we must recognise that we are in a new reality now. We must accept it, we must make it work. That is the way British business is responding to the referendum result. As one of your longest serving chairman wrote to me this weekend and said "we must make the most of the cards in front of us, not ask for a new hand", the key thing we need to get right are these: our future relationship with Europe, Britain's underlying productivity challenges, the need to grow exports faster, and encourage inward investment, and above all, we need to think big and think radically about how to ensure the best possible outcome for the United Kingdom in these new circumstances." "We face a massive productivity challenge, yes our growth here in Britain has been stronger than many and yes in the last parliament we created more jobs in the UK than the rest of Europe put together, but our output per person, per hour is still lower than America, Germany and France, and now is the moment to tackle it. There is no single silver bullet, the work we have done on cutting business taxes, prioritising infrastructure that helps and must continue." "I believe it is in our fundamental national and economic interest to remain very close to the European Union. For trade, for business, for security, for cooperation, so let that be our goal. So the right relationship with Europe, higher productivity, more exports and inward investment, these are the things that we have to get right, and they will require massive national effort." STORY: David Cameron said it was in Britain's fundamental interest to remain very close to the European Union when it renegotiates a new relationship with the bloc it voted to leave in a referendum last month. Speaking to global aerospace executives at the Farnborough airshow, Cameron said Britain must accept the reality of the vote and must make it work, including forging a new relationship with its European partners. "I believe it is in our fundamental national and economic interest to remain very close to the European Union, for trade, for business, for security, for cooperation. So let that be our goal," Cameron said. Cameron announced his resignation the day after his campaign to remain in the European Union was defeated in the referendum. He said Britain had already had a taste of the turbulence in global markets and in term of the value of the pound that he had warned would follow a leave victory. "Above all though, we must recognise we are in a new reality now, we must accept it and we must make it work." He said Britain needed to "think big and think radically" to ensure the best outcome in the new circumstances, including a much bigger push on trade and investment targeting fast-growing economies like India and China.