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Friday, November 23, 2012

EU Draft Budget Proposal Leaked

Courtesy of Open Europe a draft of the latest HermanVan Rompuy (HvR) proposal for the EU budget has been published.

The headline spending figure remains broadly unchanged in the new proposal, standing at €1,014BN (a €4BN increase), but more is spent on farm subsidies and structural funds, in a move designed to appease France, Poland, Italy and Spain.

Thus the budget in its present form will not pass, as the UK will veto it.

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