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Denmark to Win EU Rebate in Victory for Thorning-Schmidt

Denmark neared winning a rebate from the European Union’s budget in a victory for Prime Minister Helle Thorning-Schmidt.

Denmark would become the fourth country with a cash-back guarantee, recouping 130 million euros ($174 million) annually under proposals made early today at a summit on the EU’s 2014-2020 budget framework in Brussels.

Britain, which reclaimed 3.6 billion euros in 2011, will continue as the biggest refund beneficiary. The two other money-back recipients are the Netherlands, set for a refund of 650 million euros, and Sweden, set to claim back 160 million euros.

An EU official said the Dutch and Swedish refunds will decline slightly in real terms from the 2007-2013 budget period, without giving precise figures. In addition, the Netherlands and Sweden join Germany in paying a smaller share of value-added tax receipts into the EU budget.

EU leaders will review the rebate mechanisms when the summit resumes at 12 p.m. today. All 27 have to agree to the revenue-raising and spending sides of the seven-year budget.

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