“We will only put a deal to the House of Commons that we think the House of Commons will accept,” Osborne said. “If it comes to a vote ... the House of Commons will face a choice: You either accept the deal or you accept no deal. Now no deal doesn’t mean there is no spending in Europe; it means you go to these annual budgets in the European Union.”
Osborne, 41, said there had been a shift in the public mood against the EU in Britain.
Many Britons regard the EU as an incompetent and spendthrift bureaucracy. Britain’s ties with the 27-member bloc are likely to be a big theme in a national election due in 2015.
“Britain has become more Euroskeptic over my lifetime. I think people are outraged when they see money being wasted in Europe,” Osborne said.