EU confirms $56.4 billion owed by UK in the post-Brexit settlement

Topics European Union | Brexit deal | UK

EU headquarters in Brussels | Photo: AP

The UK is liable to an amount of 47.5 billion euros ($56.4 billion) to the European Union (EU) and the calculation is final, a European Commission spokesperson said here on Friday.

The amount includes outstanding commitments made prior to January 1, 2020; contributions to the EU's pension and sickness schemes; as well as other minor items, according to Balazs Ujvari, the Commission's spokesperson for budget and human resources, the Xinhua news agency reported.

The calculation was made in line with the provisions of the Brexit deal, Ujvari said. The total amount will be paid over several years in installments.

For 2021, the UK will have to pay 6.8 billion euros. The June installment has already been paid in full. The next bill will be sent in September.

Asked to comment on a reported discrepancy with the UK's calculation, Ujvari said that the EU's figure was final, but he refrained from commenting on speculations that the payments might fall short of the EU's expectation.

"So far, everything that has to be done was done. Therefore, we have no indication whatsoever that the overall figure will be contested," Ujvari said.

The UK joined the EU in 1973 but announced its withdrawal in 2016 after a referendum. It officially left the bloc on January 31, 2020.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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