Cohesion funds: UK taxpayers are the big losers
UK taxpayers are the big losers as EU pours €325 billion into Cohesion funds
In the last funding period, the UK gave £29.5 billion to the EU’s structural and cohesion funds and got back around £8.7 billion. This was a very poor deal, says UKIP MEP Gerard Batten.
• Commenting on today's vote in the European Parliament on cohesion funding for the next multiannual period, UKIP MEP Gerard Batten said:
"There is no such thing as EU money, it is taxpayers' money. It is British taxpayers, as well as those from Germany and France who are the big losers in this vote today.
UK taxpayers will make a huge contribution to cohesion funding which goes to poorer states in Eastern Europe but get little in return.
In the last funding period, the UK gave £29.5 billion to the EU’s structural and cohesion funds and got back around £8.7 billion. This was a very poor deal.
Even Wales, which people think of as a beneficiary, overall paid £1.65 for every £1 it received back from the funds. Cohesion funds constitute 34% of the EU spending budget.
As we are now talking about €325 billion over the next seven years, this should concentrate peoples' minds on the exorbitant cost of EU membership."
Mr Batten spoke in plenary, yesterday, during the joint debate on Cohesion, Regional Development and Social Funds [ Watch]. Related: Germany, France and the UK: 'Net losers'