§ Mr. Teddy TaylorTo ask the Chancellor of the Exchequer what progress has been made in resolving the budgetary crisis of the EEC; and what is the policy of Her Majesty's Government towards approving in principle the creation of a fourth resource for the EEC based on national gross national products.
§ Mr. Brooke[holding answer 19 January 1988]: The Budget Council has met four times in an effort to establish a draft budget for 1988, but has failed on each occasion to reach agreement. It will renew its discussions in the light of the outcome of the European Council on 11–12 February.
The fourth resource proposed by the Commission would link budget contribution shares more closely to shares in Community GNP, and hence to relative prosperity. It is worthy of further consideration.