Thursday, 23 June 2016

Have the EU accounts been signed off or not? This Fiscal Question hasn't been brought up on the run up to the referendum.

This is The Real Reason Cameron ,Osbourne and their Cronies Want us To Remain. Don't believe Their Lies.
But remember, the question we are trying to answer here is not, “How difficult is it to audit the EU’s accounts?” but rather “Have the EU accounts been signed off for the past 19 years.” And the only honest answer to this second question is clearly, “No, they have not been signed off”. What the EU has done is not to make extra efforts to get to the bottom of its accounts and sign them off, but to change the normal rules of accounts auditing so that they no longer apply to the EU, and to change the meaning of ordinary English words to try to persuade us that this procedure is acceptable.
So that when The Daily Telegraph says “that EU auditors refuse to sign off more than £100 billion of its own spending” or the BBC’s John Humphreys on Radio Four’s “Today” says the same thing, they are – according to the EU – the victims of a “misunderstanding”. (I am reproducing the EU Court of Auditors press handout of 11 November 2014 in its entirely below because it is a masterpiece of sleight of hand that deserves to be read word for word, very slowly.)
Some of the EU’s arguments might hold water were it not for one over-arching fact that makes them pale into insignificance. It’s true that, in 2015, the amount not signed off by the Court of Auditors was “only” 4.7% of the budget.  The problem is that 4.7% of the budget is 6.97 BILLION Euros – enough to build 70 major hospitals or 150 large secondary schools.
(richardmilton)

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