§ Mr. Marlowasked the Chancellor of the Exchequer what are the current estimates as to the gross payment into
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Out-of-work weekly spending power Earnings required to produce same spending power Mortgage level £5,000 £10,000 £15,000 £20,000 £25,000 Married couple £43.20 £70.40 £82.88 £95.09 £107.26 £119.60 the European Community budget for the calendar year 1982, the net value of the refunds valued at a discounted rate against the originally agreed date of repayment and the consequent net cost similarly discounted against the date of gross payment and the date of net fund.
§ Mr. RidleyGross contributions by the United Kingdom to the allocated budget for the calendar year 1982 amounted to some £2,460 million. Receipts other than refunds are estimated to be around £1,300 million. Our basic net refund for 1982, as agreed by the Council, was some £490 million; but we expect to receive more refunds through the risk-sharing mechanism.
The Commission has undertaken that the United Kingdom should not be put in a worse financial position as a result of the delay in payment of our basic refund for 1982. There is consequently no need to discount our refund payments on this account.