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MEMBERSHIP OF THE EUROPEAN COMMUNITY
77
Britain) is made up by contributions from the six original member States
according to their shares of the Community’s gross national product (GNP);
eventually this will be replaced by a proportion (equivalent to up to a i per
cent rate) of the proceeds of the value added tax.
The Treaty of Accession gave Britain a transitional period up to 1980 in
which to adopt this system. The treaty set a percentage (or key) based on
Britain’s share of the total GNP of the nine countries in the enlarged Com¬
munity. This represented the proportion of the budget which Britain would
nominally have been expected to pay in the first year of membership. During
the transitional period, Britain is paying a proportion of its nominal contribu¬
tion, increasing in annual steps, from some 8-75 per cent of the budget in 1973
to about 19 per cent in 1977. For the two-year period after 1977, the British
contribution is not to increase by more than a limited amount.
A ‘correcting mechanism’ has been established providing for repayments to
a member State whose contribution to the Community budget is seriously out
of line with its share of total Community GNP and its economic situation.
77
Britain) is made up by contributions from the six original member States
according to their shares of the Community’s gross national product (GNP);
eventually this will be replaced by a proportion (equivalent to up to a i per
cent rate) of the proceeds of the value added tax.
The Treaty of Accession gave Britain a transitional period up to 1980 in
which to adopt this system. The treaty set a percentage (or key) based on
Britain’s share of the total GNP of the nine countries in the enlarged Com¬
munity. This represented the proportion of the budget which Britain would
nominally have been expected to pay in the first year of membership. During
the transitional period, Britain is paying a proportion of its nominal contribu¬
tion, increasing in annual steps, from some 8-75 per cent of the budget in 1973
to about 19 per cent in 1977. For the two-year period after 1977, the British
contribution is not to increase by more than a limited amount.
A ‘correcting mechanism’ has been established providing for repayments to
a member State whose contribution to the Community budget is seriously out
of line with its share of total Community GNP and its economic situation.
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The item on this page appears courtesy of Office for National Statistics and may be re-used under the Open Government Licence for Public Sector Information.
| Britain and UK handbooks > Britain: An official handbook > 1977 > (95) |
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| Permanent URL | https://digital.nls.uk/205415419 |
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| Attribution and copyright: |
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| Description | 'Britain: An official handbook' was produced annually by the Central Office of Information from 1954-1998. There are 44 volumes available here to view. |
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| Shelfmark | GII.11 |
| Description | Three titles produced by the British Government from 1954-2005 describing 'how Britain worked'. They are: 'Britain: An official handbook' (1954-1998), 'Britain: The official yearbook of the United Kingdom' (1999-2001), and 'UK: The official yearbook of the United Kingdom of Great Britain and Northern Ireland' (2002-2005). These 50 reports provide an overview of Britain's economic, social and cultural affairs, its environment, international relations, and the systems of government. They give an impartial summary of government policies and initiatives, and explain how public services are organised. |
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