Osborne says UK's £1.7bn bill to EU will be 'halved'
The Chancellor has claimed victory in the stand-off with the European Union over its demand the UK pay £1.7bn, by next month.
George Osborne emerged from talks in Brussels earlier to announce the bill had been halved, and that it would be paid in two instalments next year - with no interest.
Labour called it smoke and mirrors and said the reduction was due simply to a scheduled rebate that would have been paid to the UK next year anyway.
Gavin Hewitt reports.
07 Nov 2014
- From the section UK