Why the UK is right to defend its budget rebate

On 14th July this year, the European Commission published proposals to abolish the UK’s rebate of two-thirds of its net contribution to the EU budget, which has existed in one form or another since 1980, and to substitute a less generous "corrective mechanism", which would give much smaller rebates to the UK and to the next three largest net contributors to the budget.

With the exception of Austria, all other Member States would also benefit from this new mechanism, because the total ...