Britain will attempt to offset Brexit cost with 150 billion worth of EU assets


Blackleaf
#1
Britain will attempt to offset the cost of Brexit by claiming a significant share of more than 150 billion worth of European Union assets, according to reports.

Michel Barnier, the EU's chief Brexit negotiator, is understood to be preparing a list of up to 60 billion of liabilities.

Officials in Whitehall are also drawing up their own list of EU financial assets, according to The Times.

Britain will attempt to offset Brexit cost with 150 billion worth of European Union assets


Britain will attempt to offset the cost of Brexit Credit: Pete Maclaine / i-Images

Laura Hughes, Political Correspondent
16 February 2017
The Telegraph

Britain will attempt to offset the cost of Brexit by claiming a significant share of more than 150 billion worth of European Union assets, according to reports.

Michel Barnier, the EU's chief Brexit negotiator, is understood to be preparing a list of up to 60 billion of liabilities.

Officials in Whitehall are also drawing up their own list of EU financial assets, according to The Times.


Michel Barnier, Chief Negotiator for the Preparation and Conduct of the Negotiations with the United Kingdom Credit: AP/Thierry Monasse


It comes after Sir Ivan Rogers, the UK's former man in Brussels, warned that European Union will demand a 50billion Brexit bill.

He said that Brexit has exploded a "bomb" under the European Union's budget and it will seek to claw back money from the UK.

However, as the EU's second largest net contributor, the Government hopes to secure at least a 20 billion share of assets.

Liabilities are likely to include unpaid spending commitments made before the Referendum, cash, property and repayable loans.

An independent think tank in Brussels has already estimated that Britain's assets could be worth 152.5 billion.

Zsolt Darvas, one of the authors of the report, told the newspaper: "I could imagine that there will be different shares for the assets and the liabilities.


Brexit has exploded a "bomb" under the European Union's budget Credit: Rosemary Roberts / Alamy

"One reason for that is that in terms of the liabilities they have been agreed by all member countries, but for the assets it would be wrong to treat Britain the same as Croatia, that has only been a member for a few years."

Sir Desmond Swayne, the Conservative MP, said that the issue was "clearly something that was going to be at the top of the government's agenda".

Adding: "Before you get round to talking about the future relationship you have to talk about who gets the home. This is going to take a long time and be a less than harmonious discussion. We will see who comes out on top."

Britain will attempt to offset Brexit cost with
 
EagleSmack
#2
Brexit!

MAGA!
 

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