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George Osborne under pressure over EU budget row

In other developments as the row grew:

:: Treasury ministers are to be hauled before MPs this week to explain why Mr Cameron was not informed of the impending1.7 billion charge from the European Union;

:: Mr Osborne is preparing to launch talks with other European finance ministers, ahead of a meeting on November 7 at which the dispute is expected to be discussed. The Chancellor will raise Britains concerns with the German Finance Minister, Wolfgang Schaeuble, and others, when they meet in Berlin this week at a global forum on tax transparency;

:: Senior Treasury officials are meeting this weekend, and will be speaking to their counterparts in the Netherlands, Italy, and Greece to build an alliance of countries to fight the extra demands for money.

:: Labours Treasury spokesman, Chris Leslie, wrote to Mr Osborne demanding that the Chancellor set out what he knew, when about the demand for more money. Mr Leslie told Mr Osborne he had serious questions to answerabout how long the government had known about the potential for Britain to be hit with such a massive surcharge;

:: A senior Member of the European Parliament warned that Mr Cameron would have to pay the 1.7 billion, saying the confusion was an entirely British affair and that the rest of Europe expects the UK to pay up;

:: It emerged that Britain would face EU fines worth more than 1.3 million a day for every day the country refuses to pay the extra bill.

The call for the extra cash, which followed a review of member states' economic performance since 1995, was described by Mr Cameron as "completely unacceptable".

The detailed demand for 1.7 billion was first sent to EU member state governments on October 17, several days before the information reached the Chancellor.

The Chancellor has said he learnt about the bill "earlier this week", but it appeared to catch the Prime Minister off guard.

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George Osborne under pressure over EU budget row

October 27th, 2014

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The European Union Charges Britain Another 1.7 Billion For The Joy Of Membership

I suppose we really should have seen this coming as a result of the recent changes in how everyone should calculate the national GDP. For contributions to the European Union are determined by the size of the various respective GDPs. Thus, a change in the method of calculating GDP is likely to lead to a change in the various contributions that must be made.

David Cameron is fighting to stop Britain being forced to pay an extra 1.7billion to the European Union due to the success of the British economy.

The Prime Minister was ambushed with a demand from the European Commission for the extra cash because Britains economy has performed better than other economies in Europe since 1995.

The bill is due on 1 December and Mr Cameron is particularly enraged because Brussels accountants are also preparing to give France back 790million as its economy performed less well than Britains.

I think we can safely say that thats Rochester and Strood won by UKIP there then at the coming byelection. Almost as if thats what the EU desired to happen.

As the Guardian tells us:

Eurostat arrived at the 2.1bn figure on the basis of new methods of calculating member states GNI since 1995, taking account of previously unreported or under-reported black economy elements, such as drug dealing and consumption or the sex industry.

Eurostat concluded that the UK economy has been doing much better than previously assumed since 1995, relative to other European countries, and that British contributions needed to be upped.

It changes the way contributions to the budget are calculated, said Fiorilli. Some member states have booming economies. Everyone can see the UK is growing much faster than others.

Fiorilli said that the commission and Eurostat use 1995 as the benchmark year for calculating the impact of GNI figures. Member states including Britain insisted on this. It is their decision, he said.

Excerpt from:
The European Union Charges Britain Another 1.7 Billion For The Joy Of Membership

October 27th, 2014

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