Overview

This bill mandates an independent audit of the economic, social, and political costs and benefits of the UK's membership in the European Union. The audit will be conducted by a commission appointed by the Chancellor of the Exchequer and will report its findings to Parliament.

Description

The EU Membership (Audit of Costs and Benefits) Bill establishes a seven-member EU Membership Audit Commission. The Chancellor of the Exchequer will appoint the commissioners, ensuring a balance of pro- and anti-EU views, a neutral chair, and excluding individuals with ties to the European Parliament or Commission.

The Commission's task is to thoroughly examine the current costs and benefits of UK EU membership, considering its impact on:

• The UK economy (including public spending and receipts).
• UK competitiveness and trade (including limitations on trade agreements).
• National security and defense (including immigration control).
• The burden of EU regulation.
• UK sovereignty.

The Commission must submit its report to Parliament within twelve months of its appointment. The Treasury will provide necessary administrative and financial support.

Government Spending

The bill will incur expenditure payable from public funds, the exact amount of which is not specified. This will cover the Commission's administrative support, member remuneration, and expenses.

Groups Affected

This bill will impact a wide range of groups including:

• The UK Government: Responsible for appointing the Commission and funding the audit.
• The EU Membership Audit Commission: Responsible for conducting the audit and producing the report.
• The UK Public: The report's findings will inform public debate on the UK's EU membership.
• Businesses: The audit's conclusions may influence business strategies and investment decisions.
• Parliament: The report will be presented to Parliament and will likely inform future policy decisions.

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