By Kevin Whitelaw
Jul 8, 2021, 8:59 PM
Word Count: 192
The EU assessment, which was published in a budget document, is aimed at reflecting the U.K.’s ongoing commitments to EU programs it’s still benefiting from, as well as other obligations to the bloc. The bulk of funds are due to the EU in the coming years.
The accounting could trigger new discussions with the U.K., which estimated in 2018 that the total bill would amount to 41.4 billion euros.
The EU said that for 2021, the U.K. payment should total 6.8 billion euros, with the rest to be paid later. Some payments to the EU could continue for liabilities such as the pensions of officials for several decades, the U.K. government has acknowledged.
The two sides continue to bicker over a number of issues related to the U.K.’s withdrawal from the EU. Late last month, officials postponed for thee months a clash over British companies selling chilled meats to Northern Ireland as they continue to negotiate new trade rules for the region.
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As the UK’s net contribution in 2015/6 was €12.5billion and rising it won’t take long to pay this off. Taken together with revising MiFID and GDPR rules the UK can probably save this much in a year.