Overview

This bill establishes a Committee of Inquiry to investigate the economic costs and benefits of the UK's membership in the European Union. The committee will report its findings to the Chancellor of the Exchequer by July 1st, 2012.

Description

The bill mandates the Chancellor of the Exchequer to appoint a seven-member Committee of Inquiry. The committee's composition ensures balanced representation: two members nominated by pro-EU organizations, two by anti-EU organizations, two by the Chancellor as neutral, and a neutral chair also appointed by the Chancellor. The chair's appointment requires approval from at least five committee members. Former members of the European Parliament or EU employees are ineligible. The committee will examine the economic implications of EU membership for the UK, including impacts on the economy and government spending. The Chancellor will provide the committee with necessary financial and other support. The committee will report its findings to the Chancellor by July 1st, 2012. The report will also be reviewed by the Comptroller and Auditor General, and subsequently presented to Parliament.

Government Spending

The bill requires the government to fund the Committee of Inquiry. The exact amount is not specified in the bill, but it will cover the committee's operational costs, including members' remuneration and allowances.

Groups Affected

• The UK Government: Responsible for appointing the committee, providing funding, and acting on the committee's recommendations.
• Pro- and Anti-EU Organizations: Involved in nominating committee members, influencing the committee's composition and potentially its findings.
• The Committee Members: Responsible for conducting the inquiry and submitting the report.
• The Comptroller and Auditor General: Will review the committee's report.
• The UK Parliament: Will receive and consider the committee's report.
• The general public: The report's findings will impact public discourse and potentially influence government policy regarding the UK's relationship with the EU.

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