A hole in the pocket

Article Abstract:

The European Union's Court of Auditors in Nov 1998 refused to give the union a seal of approval. The union has mismanaged about $5.9 bil in funds, which is about 5% of its annual budget. This was the fourth consecutive year that the union has received bad marks from the court. Members are threatening a vote of no confidence, which may result in the commission introducing stricter spending controls.

Research, Economic aspects, Financial planning, European Court of Auditors

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Last call for alcohol?

Article Abstract:

The European Union plans to levy taxes and levies on alcohol bought inside their borders, causing opposition from consumers and transport companies. Europe's duty-free industry doubled since 1991, and is worth [pound]4 bil in 1999. Opponents of the new tax argue it will force layoffs of 150,000 workers, and air fares will have to be raised to compensate for lost income.

European Union, Value-added tax, Tax policy

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