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1.  The government promised a referendum on the EU Constitution.  The new treaty contains 96% of the content of the old Constitution.  Governments should keep their promises.

2.  Unlike any previous treaty, this treaty allows the EU to amend it later - without consulting the people.  This treaty is like signing a blank cheque; we don't know what's in it yet. 

If you want to understand more about this issue but don't want to read it for yourself, surprisingly The Sun has written a decent summary: http://www.thesun.co.uk/article/0,,2004240000-2007440318,00.html

If you want to read the draft text, you can download it from http://www.openeurope.org.uk/research/comparative.pdf - and see for yourself just how close it is to the old Constitution.