UK wants a "flexible, live and let live" European Union, PM says

The UK needs a flexible business-oriented European Union, not one that aspires towards an ever closer political union, according to Prime Minister David Cameron.

Speaking at the Confederation of British Industry's annual conference in London, Cameron said, "A trade centric renegotiation with Brussels is in the country’s interest. My goal is to create a "live and let live" European Union."

"I am not satisfied with the status quo and Europe needs to change. Seeking change in Europe is one of the promises my government was elected on. If we get the changes we seek, I will campaign vigorously to stay in the EU."

However, the PM said he would "rule nothing out" if British concerns are not heard. If the UK's European partners show the the EU has the flexibility to accommodate British demands, then the UK will stay in. Were that not to happen, Cameron said the UK would have to ask a "very profound question" about whether its EU membership still made sense.

The PM also said the time had come to "debunk certain myths" of the pro and anti-EU camps in the country.

"The UK is a growing economy and can clearly survive outside the EU. The big question is not whether we could survive, but whether its in our long-term economic interest to leave the EU," he said.

Turning his fire to the anti-EU campaign, Cameron said those who want Britain out of the EU need to come up with a better argument than proposing a Norwegian model for the country. Norway, which is not part of the EU, has agreed to abide by trade norms set by Brussels, but has no say in shaping the policy.

"Quite frankly, that is a non-starter and not in Britain's interest; the other side need to come up with something better," he said.

The PM said it would be "difficult and hard" but he believes that he can convince the EU's other 27 states to agree to British demands before the public is asked to vote via a referendum.

Earlier, two hecklers from a group known as 'Students for Britain', an offshoot of the 'Vote to Leave the EU' campaign, interrupted the PM's speech. Heckling, directed at the CBI and their perceived support for the UK to remain within the EU, was put to an end after the duo were removed by security personnel.

The PM laughed it off, saying the protesters should shout less and listen more. Elsewhere in his speech, Cameron said it was vital to tackle the deficit while the economy was growing. He also said the government wanted to create a pro-venture capital environment for technology startups in the UK, adding that "entrepreneurial spirit" had flourished in the UK in the past five years, with a high number of start-ups.