28th June 2013
I am delighted that the European Parliament has finally seen sense and accepted a six per cent cut in next year's EU budget - ideally it should have been cut even more.
Let us hope that the Parliament is finally beginning to grasp the economic reality that, as budgets are being cut across the continent, the EU should lead by example.
The European Commission has announced a draft budget for 2014 that is six per cent lower than this year's budget. I would have preferred an even greater reduction in overall spending, but this proposed cut is a significant move in the right direction.
This is all thanks to pressure from the UK and our Northern European allies who were tired of writing cheques to meet ever increasing demands. They should have adopted a disciplined approach to budgeting a long time ago, but it is certainly better late than never.
The renegotiation of Britain's terms of membership needs to build on these foundations.