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IN IRELAND's 35-year membership of the European Union the State has been a substantial net beneficiary of EU funds. During that time we have received twice what we have contributed to the EU budget, some €41 billion. And of these financial transfers, €3 out of every €4 have gone to the farming sector.

The European Commission has been criticised heavily for its management and oversight of the annual budget. Indeed, for the last 13 years the European Court of Auditors has refused to sign off on the annual budget accounts. The court, in its criticism, has suggested money has been wasted and that fraud may have occurred. Of course, much of the EU's spending is actually disbursed by national governments.