Richard Drax
Main Page: Richard Drax (Conservative - South Dorset)Department Debates - View all Richard Drax's debates with the HM Treasury
(9 years, 9 months ago)
Commons ChamberOf course, the shadow Chancellor estimated that it would cost £114,000 a year, which is the EU penal rate on £1.7 billion. If interest had been charged even on the rebateable amount, it would of course have been about half that figure.
May I congratulate my right hon. Friend on getting half the money back? That is certainly a step in the right direction. However, does it not show that one economic cap does not fit all in the EU, and never ever will?
My hon. Friend is right. That is why previous Conservative Governments achieved things such as the opt-out from the single currency, even though the previous Labour Government toyed with the idea of joining the single currency, which reveals—