UK's £1.7bn bill to EU 'halved' says Osborne

November 7, 2014 2:00 PM

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UK's £1.7bn bill to EU 'halved' says Osborne

The UK will only have to pay half of the £1.7bn budget surcharge demanded by the European Union, Chancellor George Osborne has said.

Speaking in Brussels, Mr Osborne said the UK would make two payments next year totalling £850m instead of £1.7bn in a lump sum by December.

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