EU to hit UK with £50 billion Brexit settlement
The European Commission’s chief negotiator has said that the UK would have to pay a Brexit settlement fee of €50-€60 billion (£42-£50 billion).
Michel Barnier mentioned the figure to EU leaders, according to Sky News.
Expected to be one of the first issues brought up when negotiations start the ‘exit bill’ was first mentioned last month.
It was reported that the UK could be ‘on the hook’ for some of the EU’s long term budget after 2019.
Czech Republic’s Europe minister Tomas Prouza told Sky: ‘I understand why the Europesceptics call it an exit fee.
‘But this is agreeing the bills that the UK has already agreed to pay. We’re talking about to the existing budget that the UK already voted for, pensions for British citizens working at the EU.
‘This is only things the UK has already committed itself to paying.’
He conceded that the bill would be worth tens of billions of pounds.
Source: Wealth Manager
