§ Mr. Proctorasked the Chancellor of the Exchequer what reductions have been made in all areas of expenditure of the European Economic Community in the last financial year; and if he will make a statement.
§ Mr. RidleyIn 1981, there was an overall reduction of 894 million ecu (£498 million approximately) to the initial estimates of expenditure when the Budget was adopted. The changes were as follows:
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Reductions *£ million million ecu Area European agricultural guidance and guarantee fund guarantee section 714 1,290 United Kingdom supplementary measures† 17 30 Interest rate subsidies to Italy 11 20 Transitional refunds to Greece 7 13
Reductions *£ million million ecu Reimbursement to member States for own resources collection cost 34 61 TOTAL 783 1,414 * Converted at the rate of £1 - 1.80796 ecu; the average exchange rate for 1981.
† The reduction to the United Kingdom supplementary measures results from technical adjustments to take account of the grossing up of the negotiated net refund in respect of 1980.
Increases *£ million million ecu Area EAGGF guidance and fisheries 30 55 Aid to non-associates 24 44 Steel social measures 34 62 Food aid 77 140 Financial Protocol to Portugal 2 4 EMS interest rate subsidies 0.6 1 Research 0.6 1 Administration 7 13 European regional development fund 110 200 TOTAL 285.2 520 * Converted at the rate of £1 - 1.80796 ecu; the average exchange rate for 981.