HISTORIC PRESS RELEASE : Statement on the 1997 Community Budget – European community finances [August 1997]
The press release issued by HM Treasury on 11 July 1997.
The Government today publishes its Annual Statement on the European Community Budget, entitled “European Community Finances”. The Statement gives details of the 1997 Community Budget, including:
- the adoption of the 1997 Budget at 82,370 million ecu (60,727 million Pounds) of payments in 1997, or 1.17% of Community GNP (well within the Own Resources ceiling of 1.24%);
- a limit on commitments to future expenditure entered into in 1997 of 89,142 million ecu (65,719 million Pounds); and
- information about the UK’s contributions to, and receipts from, the Community Budget.
As in previous years, the Statement outlines developments in EC financial management and in countering fraud against the Community budget. The key issues are:-
the acceptance by the InterGovernmental Conference of a number of UK proposals for the Amsterdam Treaty aimed at improved financial management, particularly on the powers of the European Court of Auditors;
criticism by the Council and the European Parliament of the failure of Community expenditure to meet the standards of propriety set by the European Court of Auditors; and
further evidence from the Commission and an Inquiry by the European Parliament of the implication of organised criminal gangs in fraud against Community income, particularly through the transit system for temporary suspension of customs duties.
