Skip to main content

European Union Solidarity Fund

Volume 475: debated on Friday 9 May 2008

To ask the Chancellor of the Exchequer what (a) gross and (b) net amounts he expects the UK to receive from the EU Solidarity Fund to compensate for flood damage; what the reasons for the difference between the two figures are; and if he will make a statement. (204617)

The UK expects to receive €162.4 million from the EU Solidarity Fund, around £110 million at the exchange rate at the time of application. The net value to the UK of this receipt is around £31 million, calculated as the full benefit (around £110 million) minus the UK contribution through the EC Budget (around £19 million) and the resultant reduction to the UK abatement (around £60 million).