EU Budget: Contributions
The question
To ask the Chancellor of the Exchequer, if she will make an estimate of the total net fiscal impact of no longer paying fees associated with EU membership on overall UK public expenditure.
Answered by Darren Jones
The Government has no overall estimate of the impact of the UK’s exit from the EU on public finances and it is not possible to accurately estimate the UK’s hypothetical contributions to the EU had it remained a Member State.
As part of the Withdrawal Agreement with the EU, the UK agreed the Financial Settlement, which is a methodology for settling pre-existing UK financial obligations to the EU. The European Union Finances Statement 2023 (available in the library of the House and on Gov.uk) sets out HM Treasury’s estimates of the size of these obligations. As at December 2023, the UK is estimated to have paid £23.8bn (€27.4bn) in net liabilities to date as part of the EU financial settlement. Estimated UK outstanding net liabilities as of December 2023 were £6.4bn (€7.4bn).
In the next iteration of the EU Finances Statement, expected in Spring 2025, HM Treasury will publish details of UK payments under the Financial Settlement in 2024 and its latest estimate for outstanding UK liabilities as at 31st December 2024.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →