George Osborne claims to have halved the EUs £1.7bn UK surcharge

In recent media reports, the chancellor George Osborne claims to have halved £1.7bn surcharge recently imposed on the UK by the EU  http://t.co/qC6ttwtFrH However, further investigation reveals that this is a total misrepresentation of the facts of the agreement that has been reached. The reality is that all Osborne has done is to agree that half of the surcharge should be deducted from the EU rebate the UK is entitled to receive in 2016. This distortion of the truth raises serious questions, not only about George Osborne’s political integrity, but also concerning the debacle that led to the surcharge being levied in the first instance.

George Osborne’s actions in presenting a false spin on the agreement suggests that he has scant regard for the need for political honesty and integrity. Did he really believe that the media and 70 million members of the public were gullible enough to not read the fine-print of this deal.  More importantly, the manner in which this story was spun to the press suggests an electioneering tactic. Politicians are unlikely to win votes by trying to pull the wool over the eyes of the electorate.

Concerning the EU one has to question how, with all the technology available, together with highly paid financial brains, over twenty years they have manage to miscalculate the contributions due from each member state by such wide margins. To claim that it simply arose as a result of economies performing better than had been expected is a simple whitewash. The bureaucrats in Brussels have the technology, and supposedly the financial expertise to have captured and corrected these problems years ago.

Conclusion

One can be forgiven for concluding from the situation that when enrolled in higher education related to financial qualifications, instead of attending lectures, the Chancellor, and all the EU financial experts must have been otherwise engaged behind the university bike-shed!

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