§ Mr. Leighton
asked the Chancellor of the Exchequer what effect the action of the EEC Assembly in increasing the 1980 and 1981 budgets will have on the United 356W Kingdom gross and net contributions for each of these years; when the additional contributions will be payable; and what effect the Assembly's action will have on the borrowing requirement, all other things being equal.
§ Mr. Lawson
The increases made by the European Parliament to the supplementary budget for 1980 increase the United Kingdom's gross contribution to the 1980 budget by 64 million European currency units (about £43 million at the rate of exchange used in preparing the 1980 budget estimates of £1=1.4813 ecus). It is estimated that the supplementary budget will reduce the United Kingdom's net contribution to the 1980 budget by 9 million European currency units (about £6 million).
The amendments to the 1981 Community budget adopted by the European Parliament on 18 December 1980 are estimated to increase the United Kingdom's gross, and net, contribution to the 1981 Community budget by five million European currency units—about £3 million at the rate of exchange used in preparing the 1981 budget estimates of £1=1.5889 ecus.
The additional contribution to the 1980 Community budget was paid on 2 January. Contributions to the 1981 Community budget will be made each month in the normal way. All other things being equal, the borrowing requirement would be reduced by the amount of the changes.