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Osborne faces TSC grilling over £1.7bn EU bill

The Treasury select committee will grill Chancellor George Osborne over payment of a £1.7bn EU.

Last month, the EU demanded a £1.7bn surcharge from the UK on 1 December after it recalculated growth rates over the last 10 years.

This meant the UK had grown more quickly than expected and owned more in EU contributions.

Last week, Osborne agreed a deal to delay payment of the bill to two instalments in July and September.

He also agreed to bring forward a UK rebate worth around £1bn from 2016 to 2015, meaning the UK only pays £850m in total next year.

Osborne insists the rebate was not guaranteed and he has cut the bill in half, representing a “result for Britain”.

Critics argue the rebate was never in doubt and accuse the Chancellor of a “con trick”.

TSC chair Andrew Tyrie says: “The Treasury committee will want to cross-examine the Chancellor on this issue before or at the time of the Autumn Statement hearings. The key will be to understand the true cost of the surcharge to the Exchequer.”

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There are 2 comments at the moment, we would love to hear your opinion too.

  1. I’m sure George will be quaking in his boots.

    I think the bigger con trick is Cameron’s promise (oops, comment) to achieve radical reforms to the terms of Britain’s membership of the EU and the never ending stream of unwanted rules imposed on us by Brussels. What if he can’t? Never mention the exit word.

    On the issue of immigration, he’s not proposing stopping it altogether, merely putting the brakes on it. I really don’t see what’s so wrong with requiring people wanting to come here to have a job lined up, a sponsor and a visa instead of just fetching up on our shores and claiming benefits from a system into which they’ve not paid a penny. As things presently stand, we seem to have become the world’s charity basket. It can’t go on like this indefinitely. UK plc simply can’t afford it.

    Meanwhile, the other political parties are seeking to score maximum points from his evident discomfiture.

  2. The EU communism at its worst !!

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