Sign up Thank you for subscribing We have more newsletters Show me See our privacy noticeThe UK Government are reportedly liable to pay €47.5 billion (£40bn) as part of its post-Brexit financial settlement, it has been claimed. The report notes that the UK owes the whooping total under a series of articles which both sides agreed as part of the Brexit Withdrawal Agreement. (Image: Getty Images)Both sides eventually agreed on the mechanism to calculate the financial settlement in December 2017. The second sum relates to EU liabilities, such as pensions and sickness insurance of retired EU staff, which the UK owes under Article 143 of the Withdrawal Agreement. (Image: Tayfun Salci/ZUMA Wire/REX/Shutterstock)As part of the withdrawal agreement the Government must reportedly pay £5.8bn this year while the remaining balance is expected to be be settled over several decades.

Source: Daily Mirror July 08, 2021 19:18 UTC