§ Mr. Spearingasked the Chancellor of the Exchequer what is his current estimate, in terms of £ sterling at the current rate of exchange, of the amount that each member State of the EEC would contribute under the own resources system of finance (a) from levies, duties and other charges on imports and (b) the 1 per cent. of notional VAT yield.
§ Mr. Robert SheldonThe system of VAT own resources, under which part of the Community budget will be financed by a notional rate of value added tax calculated on a harmonised basis for assessment, has not yet been introduced. Information on which to base estimates of payments by each member State when it is introduced is not currently available. At present, in place of a system of VAT own resources, that part of the Community budget not covered by agricultural levies and Customs duties is financed by contributions from member States based on their share of Community GNP.
The amounts which member States will be liable to pay in respect of the 1977 Community budget, including the supplementary budget currently under consideration by the Council of Ministers, are estimated by the Commission as follows:
£million Agricultural levies, sugar levies and Customs duties GNP contributions Belgium … 155 73 Denmark … 55 33 France … 322 449 Germany … 552 470 Ireland … 23 — Italy … 434 206 Luxembourg … 2 4 Netherlands … 255 74 United Kingdom … 737 — These amounts have been converted into sterling at the rate used for the budget of £1 =2.4 u.a.