Uncategorized Auditors: EU misspent nearly €7 billion last year

Auditors: EU misspent nearly €7 billion last year

European Court of Auditors
European Court of Auditors

(AA) – The European Union misspent nearly €7 billion of its annual budget last year; the 28-nation bloc’s auditors have said in a report.

The European Court of Auditors said in its report on Wednesday that the EU’s spending error rate was 4.7 percent of its €148.5 billion budget for 2013, which was paid by member states based on their gross national income and from value added tax receipts and customs and agricultural duties.

The report said authorities in the EU had possessed enough information to detect and correct the errors and if the data had been used correctly, the estimated error rate would have been 2.5 percent.

Regional policy, energy and transport had the highest error rate in 2013 at 6.9 percent.

The EU’s spending error rate was 4.8 percent in 2012, signaling a slight drop in misuse of the budget in 2013.

The figures come amid heightened tension between Brussels and the UK, as EU bills are set to cost the UK an extra €2.1 billion.

UK Prime Minister David Cameron has warned that Britain will not pay the money by the December 1 deadline.

Cameron said at the end of a two-day European Council meeting two weeks ago: “It’s a €2 billion bill. It gets presented with a month to go. That is not an acceptable way to behave and it’s not an acceptable sum of money.”

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