HC Deb 20 March 1985 vol 75 cc519-20W
Mr. Freeman

asked the Chancellor of the Exchequer if he will make a statement on the latest cash flow position of the European Community.

Mr. Ian Stewart

The Commission estimates a fluctuating cash deficit during this month which may reach about 550 mecu (£314 million) by the end of March, after the payment of non-VAT own resources collected in February. Consequently the Commission is having recourse to the overdraft facility available under article 12(2) of Regulation 2891/77. This facility does not add to the total own resources available to the Community in 1985.

Mr. Foulkes

asked the Chancellor of the Exchequer what has been the maximum rate of increase in expenditure other than that necessarily resulting from the treaty fixed by the European Economic Community under article 203 for each year since 1972.

Mr. Ian Stewart

I shall let the hon. Member have a reply as soon as possible.