The EU gives the UK a ‘rebate’ on its Budget contributions, since otherwise UK payments into the EU pot would be disproportionate.

But clever readers of this blog want More.

How exactly is it calculated? they clamour.

Never one to disappoint, I give you the answer.

Here, in a handy 2007 European Commission document.

Read the whole thing.

And be amazed.

Especially by the equations…