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Uk Faces Interest Charges On Eu Payment Demand

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http://www.bbc.co.uk/news/uk-politics-29886824

The UK is facing interest charges of more than £3.5m next month if it refuses to make an additional £1.7bn payment to the European Union.

Prime Minister David Cameron has said the UK will not meet the 1 December deadline set by Brussels and has no intention of paying the full amount.

The European Commission said the interest rate for non-payment would increase every month.

But a Treasury source told the BBC the UK may not end up paying any interest.

Can't we just arrange a ZIRP loan? Although if Dave wasn't desperate to get "growth" we should have given them poor figures to ensure we didn't get charge like everyone else.

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Wonder what growth figures would be like if we stripped out whores, junkies, and the house price bubble created by HTB and the associated imputed rent? Bet we wouldn't be paying more to the EU and wouldn't be hit with this "unfair charge".

If we had a more responsible media in this country that wasn't hell bent on keeping the Tories in power and stoking anti-EU sentiment they might actually examine how the government has been cooking the books to hoodwink us. Farage's column in the Express address the £1.7bn issue did mention a black market, but he meant carbon trading (which fits in with their Range Rover driving NIMBY style of environmentalism), nothing about prostitution or drugs etc. which says to me either he is either ignorant or agrees with it. He could have scored easy political points with that, perhaps this privately educated, ex-commodity trading, stockbrokers son is just as much a part of the establishment as the rest.

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Our problems are: we're too honest and our civil servants are too diligent. We should be claiming subsidies for olive groves out at sea.

The answer is not.....'can't beat 'em join 'em'....the correct answer is...'if you don't like it leave it'....simples. ;)

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How much do you or I get penalised by HMRC if we fill our tax return late? Even if we don't owe them anything in the first place!

A very stupid fight to pick.

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seeing the EU interest rate is -0.2% doesn't that mean they owe us money?

It ought to, but it seems they've managed to find a +ve rate from somewhere. Otherwise we could have transferred our entire stock of debt to the EU and paid German rates.

It's all a tad bizarre given that most of this money will be gifted to Germany and France anyway.

Edited by R K

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Cameron refusing to pay what is a relatively small amount in total GDP terms is as good as admitting that the so called "recovery" is another hoax.

Of course adding interest is rubbing it in but introducing that seems to be a diversion policy to distract people's attention from the main item - the £1.7 billion.

Edited by billybong

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SO they get it delayed until just after the election. They really are just a bunch of fckn liars.

http://www.telegraph.co.uk/news/worldnews/europe/eu/11215420/EU-surcharge-deadline-to-be-delayed-until-after-the-general-election.html

But the good thing is itll still need to be paid and Farage can use this as a stick to beat the pro EU Tory party with in the general election.

Edited by Corruption

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Pay up in instalments, EU tells Britain on disputed bill

BRUSSELS - EU finance ministers tell Britain that the only way to resolve a row over a surprise budget bill to Brussels is to pay in interest-free instalments, but Chancellor George Osborne insists the bill is "unacceptable".

Interest free loan offered to Britain now.

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Pay up in instalments, EU tells Britain on disputed bill

BRUSSELS - EU finance ministers tell Britain that the only way to resolve a row over a surprise budget bill to Brussels is to pay in interest-free instalments, but Chancellor George Osborne insists the bill is "unacceptable".

Interest free loan offered to Britain now.

Couldnt make it up could you.

Because you have loads of whoring and junkies in your country the EU tells you it will loan you 1.7 billion pound of your own money (that you borrowed and pay interest on) to pay them back interest free.

Orwell really didnt come close to explaining the deluded way these socialist fascists can twist things.

Edited by Corruption

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From the pay up in instalments link:


"The rules for calculating that are not only quite precise, they are also just," Polish Finance Minister Mateusz Szczurek told Reuters. "The budget contributions are based on gross national income and I don't really believe that they should be changed."

It'll be interesting to hear Osborne's reasons for reneging on "precise and just" rules.

Edited by billybong

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George has fixed it and given them a good kicking.

'The UK will only have to pay half of the £1.7bn budget surcharge demanded by the EU, Chancellor George Osborne has said.'

He claims its a right result, they must have been laughing their socks off at the boy chancellor on this one.

£850 Million whoring and druggie tax, based on figures in Holland where both are pretty much legal.

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He claims its a right result, they must have been laughing their socks off at the boy chancellor on this one.

£850 Million whoring and druggie tax, based on figures in Holland where both are pretty much legal.

I'm not sure it's even a reduction. I just heard that it's being offset against our "rebate" in some way (which is something I've never understood!). It must be a fiddle.

Edited by oldsport

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Osborne may be pulling the wool on this one.

UK gets a rebate of 2/3rds of our net contribution iirc, so when he says UK will pay £850m is that AFTER the rebate on the £1.7bn which we would have got anyway?

In other words is he pretending he's 'negotitated' a reduction when in fact he's just been told to pay in instalments? It's not entirely clear......

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From Wikipedia (so be careful!). But the rebate does seem really complicated - plenty of wiggle room for Gidiot to claim a success.

The rebate is calculated as approximately two-thirds of the amount by which UK payments into the EU exceed EU expenditure returning to the UK. Currently the rebate is worth € 3.8 billion a year.[3] The UK remains one of the largest net contributors. The method of calculating the rebate is complex, but its effect is to increase contributions required from all other member states, to make up the loss from the overall budget. Germany, the Netherlands, Sweden and Austria all have their contribution to make up for the rebate capped to 25% of the figure which would otherwise apply, leaving France to make up for the main part of the increase in what Britain would pay without the rebate. Final calculations of the rebate are only made four years after the budget year in question.

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Osborne may be pulling the wool on this one.

UK gets a rebate of 2/3rds of our net contribution iirc, so when he says UK will pay £850m is that AFTER the rebate on the £1.7bn which we would have got anyway?

In other words is he pretending he's 'negotitated' a reduction when in fact he's just been told to pay in instalments? It's not entirely clear......

Yes, it looks like instead of agreeing to pay 1/3rd with interest he's agreed to pay half without interest.

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Yes, it looks like instead of agreeing to pay 1/3rd with interest he's agreed to pay half without interest.

You mean he's agreed to pay £850m to avoid paying interest by borrowing £850m which will incur interest to avoid the bill of £1.7bn?

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You mean he's agreed to pay £850m to avoid paying interest by borrowing £850m which will incur interest to avoid the bill of £1.7bn?

He is a master strategist, after all.

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