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For now the British taxpayers have paid to the EU more than GBP 74 billion (EUR 80 billion) over what they have received.

Since 1976 the biggest net contributor to EU budget was Germany having paid to the EU budget over what it received GBP 229 billion (EUR 254 billion). The biggest net recipient was Spain having received from the EU budget GBP 81 billion (EUR 90 billion).

In 2008 the biggest net contributors to the EU budget were the taxpayers of Netherlands contributing GBP 312 (EUR 347) per head over what they received. The biggest net recipients were the taxpayers of Greece receiving GBP 479 (EUR 532) per capita over what they paid.

These sad numbers can be found at www.money-go-round.eu a web site monitoring the volume of taxpayers’ money redistributed through the European Union’s budget.

The EU finance is full of bureaucratic waste, EU’s false self promotion, corruption and economic inefficiency. Furthermore, the EU was spending our money not only on regional and agriculture subsidies around the European continent but it also sponsored the Palestinian Authority or a campaign favouring the Lisbon Treaty before the second Irish referendum.

I used to believe that the system of the EU finance (national contributions and EU subsidies) can be abolished, that the EU could be transformed into a free trade area. Now I believe that the EU cannot be transformed. After the Lisbon Treaty came into force I believe that the only reasonable thing the advocates of freedom can do is advocating complete withdrawal from the EU and joining EFTA.

Petr Mach is economist and founder of the Free Citizens‘ Party in the Czech Republic