Peers’ report suggests that UK could exit EU without paying for it

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UNLIKELY TO BE AMUSED: The headquarters of the European Commission.

A HOUSE OF LORDS report suggests that the UK could leave the European Union without paying a penny.

According to the Lords EU Financial Affairs Subcommittee, the government would be in a strong legal position should the upcoming Article 50 negotiations result in no post-Brexit deal.

Their analysis argues that the UK would be under no obligation to fork out a €60 billion ‘divorce bill’ currently being discussed by the European Commission, nor would it have to honour EU budget payments agreed by former prime minister David Cameron.

However, the report also warns that failure to agree a deal with the EU would be likely to harm the country’s chances of securing beneficial access to EU markets.

“The UK appears to have a strong legal position in respect of the EU budget post-Brexit and this provides important context to the article 50 negotiations,” said Lady Falkner of Margravine, a Liberal Democrat peer and chair of the sub-committee.

“Even though we consider that the UK will not be legally obliged to pay into the EU budget after Brexit, the issue will be a prominent factor in withdrawal negotiations. The government will have to set the financial and political costs of making such payments against potential gains from other elements of the negotiations.”

The peers’ report is likely to be met with scorn in Brussels and by Michel Barnier, the EU’s lead Brexit negotiator, whose team calculated the potential bill of €55-60 billion.

According to them, the money would cover EU civil staff pensions, decommissioning nuclear power plants and a range of unpaid bills.

2 COMMENTS

  1. [b]WHAT OUR NET CONTRIBUTIONS TO EU HAVE DONE FOR BRITISH WORKERS[/b]
    Cadbury moved 2 Poland 2011 with EU grant
    Ford Transit moved 2 Turkey 2013 with EU grant
    Jaguar/Land Rover 2 build Slovakia plant with EU grant
    Peugeot closed Ryton plant moved 2 Slovakia with EU grant
    UK Army’s new Ajax fighting vehicles 2 be built in SPAIN using SWEDISH steel @ EU request 2 support Spanish jobs with EU grant, rather than Wales
    Dyson gone to Malaysia, with an EU loan
    Crown Closures, Bournemouth (Was METAL BOX), gone to Poland with EU grant
    M&S manufacturing gone to far east with EU loan
    Hornby models gone. In fact all toys and models now gone from UK along with the patents all with EU grants
    Gillette moved to eastern Europe with EU grant
    Texas Instruments Greenock moved 2 Germany with EU grant
    Indesit @ Bodelwyddan Wales gone with EU grant
    Sekisui Alveo @ Merthyr Tydfil Industrial Park moved 2 Roermond, Netherlands with EU funding
    Hoover Merthyr factory moved to Czech Republic & Far East by Italian company Candy with EU backing
    ICI absorbed into Holland’s AkzoNobel with EU bank loan and within days of the merger several UK factories were closed destroying 3,500 jobs
    Boots sold to Italians Stefano Pessina using an EU loan & then based their HQ in Switzerland to avoid £80 mill pa tax
    JDS Uniphase run by two Dutch men, bought up companies in the UK with £20 million in EU ‘regeneration’ grants, created a pollution nightmare & closed it down leaving 1,200 unemployed & raided the pension fund

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