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In October 2021, the UK government's Office of Budget Responsibility calculated that Brexit would cost 4% of GDP per annum over the long term. [51] 4% of 2021 UK GDP is the equivalent of a £32 billion cost per annum to the UK taxpayer. [52] After rebates, the UK's EU membership fee in 2018 was £13.2 billion. [53]
At least 3.6 million immigrants have entered the UK since Brexit (between June 2021 and June 2024, the latest available data); with net migration at 2.3 million over that period.
£8.9bn (€10.1bn) towards the UK's contribution to the EU budget to December 2020 (after offsetting for the UK rebate); £20.5bn (€23.9bn) towards the Reste à Liquider ; and £0.7bn (€0.8bn) for other financial liabilities, being an estimate for pension liabilities of €8.7bn offset by other assets totalling €7.8bn.
The UK rebate (or UK correction) was a financial mechanism that reduced the United Kingdom's contribution to the EU budget in effect since 1985. It was a complex calculation which equated to a reduction of approximately 66% of the UK's net contribution – the amount paid by the UK into the EU budget less receipts from the EU budget.
Exclusive: Figures published alongside Budget spark claims UK’s exit from EU is ‘elephant in chancellor’s study’
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Exclusive: Starmer urged to reverse the damage done by Brexit by pursuing closer ties with Europe after vast costs of leaving bloc revealed Staggering cost of Britain’s Brexit divorce revealed ...
The gross contribution is the amount the UK would pay under the standard formula before any discounts and rebates. At the time of the Brexit vote, the UK received a 40% discount from the gross contribution which was negotiated by Margaret Thatcher in the 1980s (worth about £144 million) plus various agricultural, economic development and ...