Press Release It's a good thing that the British people voted to leave the European Union when we did because the levels of waste and bureaucracy are absolutely breath-taking - UKIP MEP Jonathan Arnott
•The European Union's Court of Auditors has failed to give the accounts a clean bill of health for the 22nd year in a row.
The report blasts the payments underlying the accounts as being 'materially affected by error', leading the Court to issue an adverse opinion on the legality and regularity of the payments underlying the accounts. An adverse opinion is rare in accountancy, and is issued only in serious cases where there has been a substantial departure from generally accepted accounting principles.
In the 320-page report, the Court of Auditors blasted various examples of EU waste and mismanagement. But the Court of Auditor's findings only told a small part of the true scale of EU wastefulness, because only a small sample of all expenditure is scrutinised by the Court. There are undoubtedly many similar examples which will simply never be found.
The error rate is 3.8%, almost double the 2% threshold which is the maximum considered acceptable by the Court of Auditors, affecting a whopping €5.4 billion of EU spending.
UKIP MEP Jonathan Arnott, a member of the EP's budget control committee said: "It's a good thing that the British people voted to leave the European Union when we did because the levels of waste and bureaucracy are absolutely breath-taking. That's the nature of a system that simply isn't fit for purpose.
"These examples of waste would make you think the EU is being run by 'Count Von Count' from Sesame Street.
"Taxpayers' money is being wasted left, right and centre, the EU has obviously lost control of the money tap.
"I am sure that when we're outside the EU we can cut waste, when we can cut out the middleman and look after our own businesses ourselves."