Saturday, July 10, 2021

Brexit divorce bill up to £5 billion greater than UK govt expected, ecu says

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The Brexit "divorce invoice" negotiated by means of Boris Johnson is as much as £5 billion bigger than the united kingdom government anticipated, based on "definitive" eu calculations.

the ecu Union's consolidated annual accounts puts the closing determine owed through Britain at €forty seven.5bn (£40.8bn) – enormously up on the uk's own estimates during talks.

The invoice covers the united kingdom's share of european bills over the closing half a century of membership and contains costs equivalent to pensions for european officers and the bills for long-term infrastructure tasks.

all over negotiations the united kingdom government had estimated the charge would be between £35 and £39 billion – as an awful lot as £5 billion lower than the extra formal figure in the eu money owed.

the primary tranche of the funds, totalling €6.8bn (£5.84bn), is due through the conclusion of this yr.

ireland's member of the european court of Auditors, Tony Murphy, advised the country's public broadcaster RTÉ information that the figure turned into "definitive".

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    "while the 2020 eu consolidated debts posted by means of the commission are as of yet provisional, the court has achieved its audit work on these accounts," Mr Murphy stated.

    "For all intent and functions the figures published by way of the commission are definitive."

    The divorce invoice is tremendously politically delicate in the UK as a result of some Brexiteers don't just like the concept of sending funds to the ecu.

    Mr Johnson himself referred to the eu may "go whistle" if they wanted a financial settlement, however modified his stance after it grew to become clear a deal could not be done without.

    the bulk of the invoice is to pay for projects signed as much as the united kingdom govt, which sooner or later accepted the precept that Britain should still honour commitments it had made.

    In a likely early signed of a brewing row over the funds, thea UK govt spokesperson rejected the determine within the ecu money owed as inexact and "simply an accounting estimate".

    given that signing the Brexit deal Boris Johnson's government has threated to renege on a couple of commitments over trade and northerly ireland.

    A UK executive spokesperson noted: "this is just an accounting estimate, and does not mirror the exact volume the united kingdom is anticipated to pay to the ecu this yr.

    "we can post element on payments to and from the ecu made beneath the economic agreement within the european budget statement later this 12 months."

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