Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-02-15-Speech-4-016"
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"en.20070215.3.4-016"2
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"Mr President, reading the Montoro Romero report, I see great praise for the EIB and its work. Sadly, I cannot share this enthusiasm. That sounds a bit ungrateful; after all, the UK, which is far from being one of the poorest nations, seems to do pretty well out of it.
In 2005, we received EUR 3.979 billion in loans, which is 9.4 % of the total loans made to projects in the Member States. But the truth is that Britain is being loaned a lot less than it pays into the EU. In 2005, even after deducting the rebate we paid GBP 3.6 billion into EU coffers; that is about EUR 5.4 billion. That is not exactly value for money.
I have no problem with some of the projects being funded, such as the East London railway upgrade scheme, or improved water supplies here and there. But, of course, the wind farm off the Cumbrian coast is a waste of money.
The point is, if Britain were not in the EU, it would be able to finance these schemes without any loans and with money to spare. So we would be a lot better off and we would not have to fly that wretched flag with its ring of stars."@en1
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