The UK Government estimates that the ‘exit bill’ settlement will cost around £35 billion-£39 billion.
This is according to the May 2018 research briefing from the House of Commons Library on the exit bill.
This research briefing outlines the agreement between the UK and the EU on the financial contribution that the UK is expected to make after it leaves the EU; the ‘exit bill’.
The report states that the agreement means that the UK will:
- Contribute to and participate in the 2019 and 2020 EU budgets
- Continue to receive EU funding from EU programmes that are part of the 2014 – 2020 budget plan
- Contribute towards the EU’s outstanding budget commitments at 31 December 2020
- Contribute towards some of the EU’s liabilities incurred before 31 December 2020. (e.g. EU staff pensions)
- Continue to participate in some of EU’s overseas programmes, such as the European Development Fund, until the current round ends.