British Rebate in Europe
Description of British rebate
The Concise Encyclopedia of the European Union describes british rebate in the following terms: [1] Known also as the British abatement, the UK’s annual rebate from the EC was achieved by Margaret Thatcher after a long struggle in which she demonstrated that the UK was making a disproportionate contribution to the Community budget as a result of the workings of the Common Agricultural Policy. The rebate was finally agreed at Fontainebleau in 1984 and ran in its original form until 1999. Although it cannot formally be changed without British consent, the other member states tried unsuccessfully to reduce it in 1999 and the Commission has made it plain that it will propose a re-examination at the time of the EU’s next enlargement. The rebate is calculated on a formula related to the VAT-based portion of the UK’s contribution.
Resources
Notas y References
- Based on the book “A Concise Encyclopedia of the European Union from Aachen to Zollverein”, by Rodney Leach (Profile Books; London)