UK billed additional €1.3 billion on last day of EU membership

UK billed additional €1.3 billion on last day of EU membership
Credit: © Belga

On its last day as an EU member, the United Kingdom received a bill reevaluating its yearly contribution to the bloc upwards to €1.3 billion.

The bill must be settled by the UK by June, and is the result of the annual reevaluations of member states' financial contributions to the bloc, carried out at the start of each year.

"The Commission can confirm that, at the of January, as every year, the contributions were recalculated to bring them in line with the latest economic data," a Commission spokesperson told De Morgen.

Following the last postponement of Brexit from the previous 31 October deadline, the UK kicked off the new year with full membership to the bloc, a status it officially terminated on 31 January 2020.

The Commission spokesperson noted that the reevaluations, which are based on data like a country's VAT income and their gross national income, can sometimes result in a refund to member states, citing the example of the UK in 2018.

January 31 made Brexit official, kicking off a transition period during which the UK's rights and commitments, including financial contributions, will remain unchanged, as leaders on both sides enter a new phase of negotiations to determine their future relationship.

Gabriela Galindo

The Brussels Times

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