Friday, July 09, 2021

Brexit ‘Divorce Bill’ Higher Than UK’s Forecasts, Brussels Estimates

THE GUARDIAN: Figure of £40.8bn buried in EU’s 2020 accounts dismissed by UK as not reflecting amount it will pay

The UK’s Brexit “divorce bill” is €47.5bn (£40.8bn) according to estimates from Brussels that are higher than the government’s forecasts.

The first tranche, €6.8bn, is due for payment by the end of the year.

The final bill, buried in the European Union’s consolidated annual accounts for 2020, is significantly higher than an earlier estimate from the UK’s fiscal watchdog.

In 2018 the Office for Budget Responsibility put the Brexit bill at €41.4bn (£37.1bn). During the Brexit negotiations, British government officials said the final bill would be around £35-39bn.

The bill covers the UK’s share of EU debts and liabilities during 47 years of membership, such as paying for infrastructure projects, pensions and sickness benefits for EU officials. » | Jennifer Rankin in Brussels | Thursday, July 8, 2021