UKIP Manifesto: EU budget contributions
“The EU will also have to plug a huge financial hole of some 12 per cent of the gross EU budget when Britain leaves.”
- While there are different ways of calculating a country’s share of the complex EU budget, 12% is commonly cited as the UK’s share, taking into account our rebate (discount). In 2016 it was 13%, according to the Treasury, and some argue for 15%.
- As the UK pays in more than it gets back in EU spending, and is the second largest net contributor after Germany, Brexit will blow a hole in the EU finances.
- Both the EU and the UK seem to think that the UK will owe the EU some money when it leaves as part of the transition, for things that the UK signed up to when we were a member, but there’s no official figure and a big debate over how much this ‘divorce bill’ might be.