Financial Times FT.com

EU rebate deal will cost £1.9bn a year by 2010

By James Blitz, Political Editor

Published: December 21 2005 02:00 | Last updated: December 21 2005 02:00

Gordon Brown yesterday unveiled the full price of the UK's recent concession on its European Union budget rebate, stating the annual cost to the Treasury would hit about £1.9bn a year by the end of the decade.

As Tony Blair continued to defend the budget deal in a visit to the European parliament, the chancellor said the annual cost to the taxpayer of the concession would progressively rise from 2008 to 2013.

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