During the third day of debate on the Queen's speech - Business and the Economy, Bill Cash made the following interventions:

The EU is one of the latest global powers to wade into the fertile crescent of the Middle Eastern Levant, and to involve itself in political and historical situations far beyond its capabilities. This time, the EU is aiming to help fund a $4 million project to draw up plans for the Dead Sea and Jordan-valley region, concerning the shrinking water levels in the Dead Sea itself.

The European Parliament is the discharge authority. By granting a discharge the MEPs approve the implementation of the EU budget for a given year. Hence, they declare that a particular EU institution or agency has spent EU taxpayers’ money in line with EU rules that govern the implementation of the EU budget. The European Parliament can also refuse or postpone the discharge, if spending was not in line with these rules. It is important to note that the European Parliament grants a budget discharge on the basis of a recommendation of the Council and the Statement of Assurance (DAS) provided by the European Court of Auditors (ECA).

Bill Cash @ ConservativeHome: "Today, 9th May, is the centenary of the creation of the Conservative and Unionist Party out of the Conservative and Liberal Unionist parties of 1912. The merger took place at the Queen’s Hall in London. Against the backdrop of that ‘merger’, and the need for the Conservative Party to win the next General Election, it is well worth considering the present ‘Coalition’.

On 2 May, the Economic and Financial Affairs Council was expected to reach a general approach on the proposals amending the EU's rules on capital requirements for banks and investment firms, the so called revised capital requirements rules (CRD IV), intended to transpose into EU law the Basel 3 agreement, an international agreement approved by the G-20 in November 2010. However, the EU finance ministers were unable to reach an agreement on new bank capital requirements. On the one hand, the UK and Sweden seeking to introduce tougher capital requirements, and France and Germany on the other calling for full harmonisation. In fact, George Osborne could not accept a compromise agreement drafted by Denmark, which holds the EU’s Presidency, and endorsed by the other Member States.

The European Scrutiny Committee published yesterday its report “The Unified Patent Court: help or hindrance?”, and reached the following conclusions:

The competence over common agricultural policy is supposedly shared between the EU and the Member States. However, the EU has taken complete control of it with disastrous consequences over the past decades. The CAP has been trough different reforms but it continues to be one of the most expensive EU common policies, it imposes substantial costs on developing countries as well on EU consumers and taxpayers. The time has come to repatriate agriculture policy to Westminster. 

Last October the European Commission proposed a draft reform of CAP for the period 2014 - 2020. However, under the Commission’s proposals CAP would not be simplified, as it will continue to be too costly for national authorities and beneficiaries. The Commission has failed to propose radical reforms. In fact, the Commission has managed to disappoint everybody, member states, MEPs, farmers, environmental organizations and taxpayers. We can, therefore, expect fierce negotiations.

if he will estimate the level of the current account transaction for goods and services between the UK and EU member states in each of the last five years; and what assessment he has made of the level of debt on the reduction of the deficit.

Mark Hoban (Financial Secretary) The Office for National Statistics report the trade balance in goods and services with the EU to have been -£35 billion in 2007, -£29 billion in 2008, -£26 billion in 2009, -£32 billion in 2010 and -£25 billion in 2011. The total current account balance with the EU was -£38 billion in 2007, -£6 billion in 2008, -£12 billion in 2009, -£48 billion in 2010 and -£41 billion in 2011. The independent Office for Budget Responsibility (OBR) forecast that the Government is on course to meet its target for debt, laid out in the 2010 June Budget. This is for public sector net debt as a percentage of GDP to be falling by 2015-16. According to the OBR's March 2012 Economic and Fiscal Outlook, public sector net debt is forecast to peak at 76.3% of GDP in 2014-15.

On 26 April, the European Commission sent a reasoned opinion, second step of the infringement procedure, to the UK, formally requesting it to comply with EU rules on the free movement of EU citizens and their families across the EU. According to the European Commission the UK has committed to amend its rules to ensure compliance with the Free Movement Directive in several areas, but there are four issues which have not been resolved yet.