In order to make allowance for each Member State's ability to contribute to the system of own resources and to correct the regressive aspects of the current system for the least prosperous Member States, in accordance with the Protocol on economic and social cohesion annexed to the Treaty on European Union, the Communities's financing rules should be further amended: ... by limiting at 50 % of GNP from 1995 onwards the value added tax base of the Member States whose per capita GNP in 1991 was less than 90 % of the Community average, i.e. Greece, Spain, Ireland and Portugal, and by reducing the base from 55 to 50 % in equal steps over the period 1995 to 1999 for the other Member States ...
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