In its latest budget report, the European Commission said that £348million a year was going missing, but members of the Lords’ justice, institutions and consumer protection EU sub-committee said this was an unrealistic estimate.
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It is extremely worrying that so much money is disappearing from the EU's budget without anyone really having a handle on where and why it is happening and - most importantly - who is responsible.' Philip Bradbourn, a Conservative MEP, said: 'The hard-hitting report reinforces what Conservative MEPs have been highlighting for a long, long time, that fraud and misuse of money is simply not taken seriously enough within the EU.' The EU's auditors have found that the overall error rate in the accounts has risen for the third year in a row to 3.9 per cent - despite the European Commission claiming that the situation was 'stable'.'If what I say sounds familiar it is because we are in a depressingly familiar situation yet again this year.
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