Mr. Win. Rossasked the Chancellor of the Exchequer what are the total sums paid by the United Kingdom to the EEC in the current financial year; how much has been received in (a) grants and (b) loans from EEC sources in the same period; and what has been the average rate of interest by Her Majesty's Government for loans raised for public expenditure in the current year.
§ Mr. Joel Barnett, pursuant to his reply [Official Report, 19 March 1979; Vol. 964, c. 445], gave the following information:
The latest information available for transactions with the European Communities in the current financial year relates only to the period 1 April to 31 December 1978. This is as follows:
£ million Gross contribution to Community Budget 970.5 Capital contribution to European Investment Bank 17.2 European Coal and Steel Community production levy 10.0 Public sector receipts from the Community Budget 435.4 Grants from ECSC 3.6 Loans from EIB 240.5 Loans from ECSC to BSC and NCB 172.6 The average rate of interest paid on gilt-edged securities issued by the Government so far during the current financial year is approximately 12.4 per cent.