How often have you heard that we in Britain receive large payouts from the EU to spend on projects here. There's are signs on new developments everywhere, saying 'constructed with EU funding' but there is no such thing.
The truth is that the EU has no money of it's own and relies on Germany and the UK to be the paymasters for everything. Whenever money is obtained from the EU for projects in Britain, it is nothing more than a part of our payment being returned to us with strings attached
If you gave someone £20 and he gave you £6 back, on the understanding that you can only spend it on what he tells you
and that you must also add another £6 of your own to the expenditure, would you think that you had made a good deal?
You would tell him to take a running jump, yet this is precisely what is happening with so called EU money.
Copy from parliament's Hansard:-
Lord Davies of Oldham:
"Based on the European Commission's forcasts and assumptions and using the finacial perspective table agreed on 17th
December 2005, Treasury estimates for the United Kingdom's gross contribution to the EC budget and the rebate were set
out as follows:"-