The UK has reacted furiously to a proposal unveiled today by the European Commission that would see the British rebate from the EU budget phased out over a four year period.
Brussels has proposed that the current system - whereby the UK is the only member state to receive a rebate of about 4.6 billion euro per year from the EU budget - be gradually altered so that all member states that pay more into EU coffers than they get back receive a rebate.
If net contributions exceed 0.3...
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