Britain's £40bn Brexit divorce bill will be dwarfed by the cost of staying in the EU for just four more years, figures reveal
- Figures published on Budget day show British payments to EU would rise sharply
- Iain Duncan Smith said the figures showed leaving the EU would be ‘a bargain’
- Mrs May is set to lodge a new offer – thought to be in the region of £40billion
Theresa May faced a backlash from some
MPs this week after agreeing a formula that could see the UK hand
Brussels up to £40billion to settle ‘liabilities’ run up during our EU
membership
The Brexit divorce bill will be dwarfed by the cost of staying in the EU for just four more years, official figures reveal.
Theresa May faced a backlash from some MPs this week after agreeing a formula that could see the UK hand Brussels up to £40billion to settle ‘liabilities’ run up during our EU membership.
But
the Office for Budget Responsibility forecasts that staying in the EU
for just four years after March 2019 would cost the UK £55 billion.
Figures
published on Budget day reveal British payments to the EU would rise
sharply over the next few years if it were to remain a member, with
transfers set to rise by 25 per cent next year – from £9.9 billion to
£12.5 billion.
A further rise to £13.8 billion is pencilled in for the following year.
Former
Tory leader Iain Duncan Smith said the figures showed leaving the EU
would be ‘a bargain’, even after the cost of a divorce bill.
Mrs May is set to lodge a new offer –
thought to be in the region of £40billion – with the EU on Monday in
the hopes of moving onto trade talks.
But the Office for Budget
Responsibility forecasts that staying in the EU for just four years
after March 2019 would cost the UK £55 billion
