Sterling's plunge close to parity with the euro has added more than £3bn to the amount the Government must pay to Brussels over the next three years. The figure has been inflated because the Government has to pay it in euros. The increase comes on top of a trebling of the UK contribution to the EU - from £2bn this year to £6.5bn in 2010-11 - details of which were tucked away at the end of Alistair Darling's Pre-Budget Report in November.The report revealed that Britain's net contribution to the EU will rise to £4bn next year and £6.5bn the following year. However, the Treasury has confirmed that Mr Darling's figures were calculated at a time when £1 was worth €1.4. Opposition politicians last night condemned what they called the "perverse" additional penalty imposed on Britain by its troubled currency. But they claimed the problem was the legacy of the Government's decision to give up part of the UK rebate in 2005.
Sterling's plunge close to parity with the euro has added more than £3bn to the amount the Government must pay to Brussels over the next three years. The figure has been inflated because the Government has to pay it in euros.
The increase comes on top of a trebling of the UK contribution to the EU - from £2bn this year to £6.5bn in 2010-11 - details of which were tucked away at the end of Alistair Darling's Pre-Budget Report in November.
The report revealed that Britain's net contribution to the EU will rise to £4bn next year and £6.5bn the following year. However, the Treasury has confirmed that Mr Darling's figures were calculated at a time when £1 was worth €1.4.
Opposition politicians last night condemned what they called the "perverse" additional penalty imposed on Britain by its troubled currency. But they claimed the problem was the legacy of the Government's decision to give up part of the UK rebate in 2005.
Oh my... *Lunatic*, n. One whose delusions are out of fashion.
