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Gigantic Purple Slug

Smoke, Mirrors And Eu Payments

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Many commentators assumed that the point of Mr Osborne's negotiations was to shift the payment on to next year's deficit - and I agreed with them.

Now it turns out that the only advantage was to save a little interest.

It was also a pre-election gimmick attempting to do a Mrs Thatcher ploy (Mrs Thatcher and the eu rebate) thinking it would be popular before the general election - also trying to counter UKIP and to pretend to "stand up to europe" in advance of the Rochester and Strood by-election.

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