Osborne sets out plans for EU spending transparency

George Osborne has launched a new transparency drive ahead of the European elections taking place this Thursday.

The Shadow Chancellor promised to “shine a spotlight on where our money goes” in Europe.

And he outlined a series of measures which build on the transparency initiatives already announced by our MEP candidates:

• Transparency on the cost of Britain’s contributions to the EU, with the cost of transfers to the UK published at each Budget
• Transparency for EU spending administered by the UK government, and a push for more spending transparency across the EU as a whole
• Real accountability for EU budgets, with Conservative MEPs continuing to refuse to approve the EU accounts until they have been signed off by the auditors
• Transparency for MEPs’ and Commissioners’ expenses, including the British EU Commissioner, with all expense claims published online

George promised that no longer would "British taxpayer's money (disappear) into a Brussels black hole”:

“We will have a right to know: how much money we're giving to Europe; where it's being spent; and that the accounts show it's not being lost in fraud. And we're going to make sure that Britain's top Eurocrat and MEPs set an example to the rest of them by publishing their expenses."