London Has Paid First Part Of 47.5bn Brexit Bill

3 weeks ago Dammylink 0

The United Kingdom owes the European Union a total of 47.5 billion euros (56.2 billion US dollars) for its post-Brexit financial settlement, according to a European Commission spokesman on Friday (9 July), of which Brussels will charge 6.8 billion euros this year. 

For 2021, London already paid an initial payment last month without discussion. The spokesman said there is no indication that London intended to challenge the total amount. 

The 47.5 billion euros is more than the British themselves had calculated. London had estimated the cost of the exit at 41.4 billion euros. A large part of the amount is for pension and other social obligations for European officials, the commission spokesman said.

London may spread the divorce bill over several years, and pay it monthly. The 6.8 billion euro bill has been split into two parts. The first part was paid in April, the second follows in September. 

The United Kingdom joined the European Communities on 1 January 1973, along with Denmark and the Republic of Ireland, but the UK announced its withdrawal in 2016 after a referendum.

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