European Union (Finance) Bill

Part of Business of the House – in the House of Commons at 1:35 pm on 11th June 2015.

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Photo of David Gauke David Gauke The Financial Secretary to the Treasury 1:35 pm, 11th June 2015

That is not a matter that is related to the Bill. The own resources decision uses the same formula for this financial framework as it did for the previous one. The revisions to GNI to which my hon. Friend refers are a separate matter. The element relating to the hidden economy has on occasions been somewhat overstated in this debate, but yes, there was a correction of our GNI estimates and that did require an additional sum. He will be aware of how this Government negotiated to ensure that we did not have to pay that sum up front—we were given much more time—and that the rebate applied to it.