EU Financial Management

The answer to the question of whether the money belongs to the EU is clear. It is stated as categorical fact that the moneys that devolve into the EU’s budget are those of the EU. Is it not disingenuous—to use the Economic Secretary’s expression—to say to member states that fraud happens in the nation states but all the money belongs to the EU? It cannot do the job properly. Why cannot our Public Accounts Committee and National Audit Office audit the moneys that go into the EU’s coffers? After all, we are talking about our taxpayers’ money.