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Future EU Finances and Own Resources

A significant element of agricultural spending is still involved, which is why it was important to agree a process for reforming further the common agricultural policy. It is important that my hon. Friend put into context his figures for the United Kingdom. We are talking about a financial perspective for 25 EU member states that stretches well into the future. We need to achieve such an agreement—my hon. Friend will forgive me for repeating this point—in the context of a number of new member states whose economic progress and development was, frankly, far behind that of existing member states. Crucially, it is in our and all other member states’ interest that the new ones be able to develop in the way that this budget allows for.