European Communities (Finance) Bill

My right hon. Friend has made several references to Ireland. If I were Irish, I would be very enthusiastic about the CAP and the structural fund policies, because the Irish are massive net beneficiaries from the budget. At its peak, it went as high as 5 per cent. of GDP, which in British terms would be £60 billion. A net inward transfer of funds from the EU totalling £60 billion might make us rather more enthusiastic.