UK could face £1bn EU fines

first_img A SERIES of catastrophic failures has left Britain facing up to £1bn in fines related to its handling of the European Union agricultural scheme, in which EU funds are given to member states to support their farming industries.The National Audit Office (NAO), which signs off on financial statements compiled by the finance ministry, said yesterday the scale of the fines meant it could not sign off on the finance ministry’s statement on the use of EU funds.The Treasury’s statement on the use of EU funds in the 2008-2009 financial year highlights £398m of confirmed “corrections” – a fine the EU imposes by withholding money – giving reduced funds to Britain in future — and a provision for further possible corrections of £601m. The fines “represent huge past costs and potential future costs to the taxpayer of implementing EU schemes in the UK,” Amyas Morse, the auditor general, said in an unusually blunt assessment. Official statements from the Treasury and other Whitehall departments from that period cannot yet be seen as “a true and fair report of the use of EU funds in the UK,” he said. The blame for the waste of money is largely being laid at the door of the Department for Environment, Food and Rural Affairs which oversees EU subsidies. Show Comments ▼ UK could face £1bn EU fines by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads Tags: NULL whatsappcenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Share whatsapp KCS-content Wednesday 19 January 2011 8:57 pmlast_img read more