LONDON — Britain wants a cut in the European Union (EU) budget and Prime Minister David Cameron will veto any deal that is not good for the British taxpayer, finance minister George Osborne said on Thursday.

"We want a cut in the EU budget," Osborne told BBC Radio 4. "We are at the beginning of a negotiation. Let us see where that negotiation leads."

The second most powerful man in the British government refused to comment  on whether he thought securing such a cut was possible or not, but said Wednesday's defeat in parliament meant the government had to listen to lawmakers.

"We will not accept a deal unless it is good for the British taxpayer. We will veto any deal that is not good for the British taxpayer," Osborne said.