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EU Budget

Volume 487: debated on Wednesday 4 February 2009

To ask the Chancellor of the Exchequer what recent estimate he has made of the monetary value in sterling of the reduction in the UK's rebate to its contribution to the EU budget negotiated in December 2005. (251283)

The December 2005 Budget agreement sets a cap on the disapplication of the UK abatement in 2004 prices in the current Budget period. The sterling value of this cap will depend upon changes in the exchange rate against the Euro within the Budget period.