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European Communities (Finance) Bill

No, I do not think that that is what the new clause proposes. It states:"““The condition referred to in subsection (2) is that the Treasury shall have laid before both Houses of Parliament a report on the review by the European Commission…including a certificate that the Treasury considers that the outcome of the review is satisfactory to the interests of the United Kingdom.””" I repeat that the review does not conclude with the publication of the relevant White Paper. There is no possibility that the review could achieve its ““outcome”” before the House has been asked to ratify the own resources decision in January 2009, and that is why I contend that the new clause is defective. What, in essence, does new clause 1 ask the Government to do? The final sentence of paragraph 80 of the Commission's document states:"““The review will also be taken into account in the preparatory work on the following Financial Perspective.””" I am sure that the hon. Member for Runnymede and Weybridge will accept that that is where work on the review will lead, but the logic of the new clause is that the outcome of the financial perspective being debated this evening should be held up until we have achieved a satisfactory outcome from the next financial perspective. The outcome of that review will inform the preparatory work for and the discussions on the next financial perspective—the one that begins after 2013. I say again, essentially, he is asking us to hold up the current financial perspective covering 2007 to 2013, pending the outcome of all of the discussions. The amendment is defective. It would cause us to miss the ratification deadline, and on that basis, I urge hon. Members on both sides of the House to reject it. The hon. Member for Twickenham (Dr. Cable) asked a fair question. He asked what would be the practical consequences of not ratifying: would there be serious consequences, or would the provisions of the current financial perspective simply be held up? Let me be plain: there is no formal sanction—no fine or formal proceedings that could be instituted—but implementation of the present financial perspective could be delayed. Backdating to the beginning of 2007 can happen only after ratification.