§ Mr. HoodTo ask the Chancellor of the Exchequer what was the outcome of the Budget Council held in Brussels on 24 November; and if he will make a statement. [61650]
§ Ms HewittOn 24 November, the Budget Council gave its second reading of the draft 1999 EC budget setting commitments at some 97 billion euros (£67 billion) and payments at 85 billion euros (£59 billion). This represents an increase of some 6.6 per cent. in commitments and 2.5 per cent. in payments compared to the 1998 budget, almost all of which is accounted for by unavoidable increases in structural funds appropriations required under the terms of the Edinburgh agreement of 1992. The Council's second reading leaves a margin of some 6.4 billion euros below the ceiling on the financial perspectives. A detailed description of the Council's second reading of the budget is given in an explanatory memorandum which the Government are submitting to the European Scrutiny Committee.