BUDGET: BRITISH BUDGET REBATE EXCEEDS EURO 5 BILLION.

The adjustment to the budgetary imbalance to the advantage of the United Kingdom refers to the years 2000 and 2003. The funding for the year 2000 adjustment applies only to the 15 countries that were EU members in 2001. The adjustment for 2003 results from measures in the new Council decision about the own resources system. The new calculation system neutralises the United Kingdom's net gains (exceptional gains) resulting from an increase in the level of traditional own resources decided upon by the Member States. Enlargement-related adjustments are also on the cards. Pursuant to the new own resources decision, the share Austria, Germany, the Netherlands and Sweden contribute to the British rebate is cut by one-quarter of the normal percentage. The reduction is paid for by the other Member States, not including the United Kingdom.

New Member States called on to contribute.

The present estimate is a lot different to the satiated adjustment for 2003 entered in the 2004 Budget. The Commission's Preliminary Draft Amending Budget therefore proposes a change to the 2003 adjustment. The adjusted figure for the British rebate for 2003 is about 731.8 million higher than the previous sum entered in the Budget. The difference is primarily ascribed to a cut in the United Kingdom's share in EU spending, leading to an increase in the adjustment equal to about Euro 622.3 million. For 2003, this means a provisional total of Euro 5,391,559 038. However, the result has to be deducted from the...