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   “Same old song” on EU finances, says MP free web page hit counter  

A new report finds the EU's accounts have failed to get a clean bill of health for the 13th year in a row
A new report finds the EU's accounts
have failed to get a clean bill of
health for the 13th year in a row

South Norfolk MP Richard Bacon has said that the EU's failure to get a positive statement on its accounts for the thirteenth year running, is the “same old song”.

Mr Bacon, a member of the Commons public accounts committee, was speaking as the National Audit Office published its report into how the European Union (EU) handles its finances.


Mr Bacon said: “The EU’s accounts have failed to get a clean bill of health for the thirteenth year running. Although some painfully slow progress is apparently being made in strengthening the way the EU looks after our money, it’s not enough to compensate British taxpayers for thirteen years of incompetence and fraud which have cost them dearly”.

“The saddest thing about this report is that it will not come as much of a surprise to anyone. This is the same old song. It’s about time the EU changed the tune”.

Mr Bacon was speaking as the National Audit Office published its report on financial management in the European Union. The report finds that the European Court of Auditors (ECA) have failed to provide a positive Statement of Assurance on the legality and regularity of European Union’s expenditure for the thirteenth year in a row.

The report also finds that overall error in the Common Agricultural Policy, the largest component of the budget, had reduced to a point where it was just above the level at which a positive opinion could be given. However, funding for Structural Measures, which are designed to reduce disparities in the level of development between regions and Member States, was judged to be subject to material error.

25 April 2008
 

See also:
NAO REPORT: Financial Management in the European Union
PARLIAMENT: EU must take better care of our money, says MP
PARLIAMENT: MP questions safety of UK cash in EU hands
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© Richard Bacon 2008