EU financial ministers meeting in Brussels. Dispute over a European Union budget surcharge.

The European Union initially requested the UK to pay £1.7 billion, which was deemed unacceptable by the UK Prime Minister. Through intensive negotiations, the UK managed to halve the bill to £850 million, delay the payment, and ensure no interest would be charged. Additionally, the UK secured a permanent change in EU rules to prevent similar situations in the future. The British rebate will apply fully, and payments will be made in two installments. This agreement was reached with the cooperation of the EU Commission and other Member States, marking a significant achievement for the UK.

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