EU Council

Debate between Baroness Stowell of Beeston and Lord Hamilton of Epsom

Monday 27th October 2014 Lords Chamber

[Lord Hamilton of Epsom (Con)]

My Lords, does my noble friend accept that it is quite acceptable for the EU to want to recalculate the basis for calculating gross national income? However, why does this tax have to become retrospective? Can she explain to us why this has to be a retrospective exercise? Why is it not just being taken forward from here, if we get the agreement of Ministers, with the tax applying in the future, not the past?

[Baroness Stowell of Beeston]

My noble friend has highlighted one of the issues that we have to explore in greater detail in the process of talks that will start in the emergency discussions between Finance Ministers later next week.