UK Relations with EU
The question
To ask the Chancellor of the Exchequer, what estimate she has made of the cost to the public purse of the outcome of the UK-EU Summit on 19 May 2025.
Answered by James Murray
We estimate that the Emission Trading System and food and agriculture elements of the agreement alone will boost the economy by nearly £9 billion by 2040.
Implementation costs will be confirmed in due course when we have negotiated the details of these arrangements. This will include proportionate contributions in specific and limited areas, such as where access to specific IT systems will help to remove trade barriers for UK firms or help us to manage biosecurity risks. We will not be making general contributions to the EU budget.
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