§ 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 proposed 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 SheldonIt is extremely difficult to predict member States' hypothetical contributions under the full own resources system. However, the Commission of the European Communities presents at various times its own estimates for the forthcoming budget year, based on information supplied by member States. Its most recent estimates were contained in its letter of amendment to the 1979 preliminary draft budget—R/2356/78—which was deposited in the House on 18th October. In terms of sterling, converted at the rate of 1.5875 EUA=£1 used by the Commission in drawing up the PDB, the relevant amounts are:
£ million Agricultural levies and customs duties 1 per cent. of VAT harmonised base Belgium … 354 299 Denmark … 104 148 Germany … 1,207 1,858 France … 603 1,373 Ireland … 41 44 Italy … 543 599 Luxembourg … 2 12 Netherlands … 517 362 United Kingdom … 987 1,040 Total … 4,358 5,735