North-East Hertfordshire MP, Sir Oliver Heald, has welcomed today’s news that David Cameron and George Osborn have secured agreement to halve Britain’s EU budget surcharge bill and to ensure that there is no payment this year. This is a significant win for the Government.

Crucially, Britain will get a repayment next December if there is any discrepancy in the numbers.

This real result adds to the Prime Minister’s track record of negotiating a better deal for Britain in Europe. He has already cut the EU’s budget for the first time in its history, vetoed a treaty that wasn’t in Britain’s national interest, and got British taxpayers off the hook for Eurozone bailouts.

It is also in stark contrast to Labour’s record of giving away powers to Brussels. They have given away £7 billion of Britain’s rebate, signed Britain up to Eurozone bailouts, and signed off EU budget increase after EU budget increase.

Commenting, Sir Oliver said, “Everyone has agreed that the EU demand for £1.7 billion was unacceptable. The EU budget procedures must be changed permanently. I am very pleased that the UK will not be paying anything on 1st December – or at all this year. The bill has been halved to £850 million and we will pay in two, interest-free instalments in July and September next year.”