EU: Budget

Lord Pearson of Rannoch Excerpts

Thursday 28th April 2011 Lords Chamber

[Lord Sassoon]

My Lords, I am happy to say that we are already on the case in this matter. At the ECOFIN in February, the UK issued a joint statement with the Netherlands and Sweden making various points about what we believed needed to be done by the European Commission and the auditors in coming years. That included, among other things, moving the European audit basis to a more risk-based approach, which I think precisely addresses the point that the noble Lord rightly brings up.

[Lord Pearson of Rannoch]

My Lords—

[Lord Hamilton of Epsom]

My Lords—

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[Lord Pearson of Rannoch]

My Lords—

[Noble Lords]

Cross Bench.