UK Payments to EU to continue for 44 years..
The UK government has agreed to pay £29.6billion to the EU as part of its departure from the bloc, in order to pay off financial commitments it signed up to prior to the Brexit referendum.
The bill will be paid in instalments over a number of years – most of it by 2026, but some of it as far away as 2064.
A report from the Office for Budget Responsibility (OBR), stated that about 45 percent will be paid in the first two years.
About half of the total, (maybe 48%) will be paid in the following years up to 2028.
The remaining 7 percent, covering the UK’s share of EU staff pensions, will be payable as it becomes due to the pension recipients, up to around 2064.
An Express report quotes:
The UK government has agreed to pay £29.6billion to the EU as part of its departure from the bloc, in order to pay off financial commitments it signed up to prior to the Brexit referendum.
The bill will be paid in instalments over a number of years – most of it by 2026.
When the Brexit date was 29 March 2019, the settlement was estimated to be about £39bn.
When the Brexit date was 31 October 2019, the settlement had fallen to £32.8bn.
With the Brexit finalised at 31st January 2020, the estimate for the divorce bill is now just under £30bn.
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