It is clear why the EU would like to welcome the rich Swiss and Norwegians within its embrace, but why would either country want to sign up for a project which would involve their citizens’ taxes being given away to other countries? EU waste and fraud are legendary, so it is easy to understand why voters have consistently rejected giving up their taxes to Brussels. As latecomers they are not in a strong position to bargain over entry terms, and can expect to become major net contributors, especially as their farmers are unlikely to gain much from the Common Agricultural Policy. Estimates of the cost of membership for Switzerland were set between SFr3 billion and SFr8 billion in 2004 – more than its entire defense budget.