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British Finance Minister: London submits this year’s proposal to settle financial obligations      

British Finance Minister: London submits this year’s proposal to settle financial obligations  

Britain’s Finance Minister says London will submit proposals to Brussels on the UK’s financial obligations towards the European Union before the December EU summit.

Philip Hammond, who was the guest of BBC television’s Sunday political magazine show, did not give a numerical answer to the question of whether the British financial obligations to the public beyond the termination of British membership in the EU could become known in the next few weeks.
Hammond recalled, however, that Prime Minister Theresa May stated in his recent Florentine speech describing governmental plans for Brex: Britain fully fulfills its payment obligations towards the EU.
The finance minister acknowledged on Sunday BBC, however, that “Europeans have made a clearer definition of what we mean by fulfilling our obligations”.
Philip Hammond stated that London would present proposals in time to reach the December EU Summit. However, it did not reveal whether these would be concrete numerical proposals.
The British financial debt to the European Union is one of the pivotal issues in which the EU is of the view that substantial progress has to be made in order to continue the negotiations in the Brexit negotiations on the current phase of defining the criteria for British departure for the post-termination of British EU membership – firstly on trade relations – to the second phase.
London would like to see this happen at the EU summit in December, but several EU leaders have indicated in recent days that they are not seeing it for the time being.
The European Commission’s negotiator, Michel Barnier, is in fact making progress necessary to advance the future entitlements of foreign EU citizens and to develop a border control system between the Republic of Ireland and Northern Ireland.
Prime Minister Theresa May said in a speech in Florence that he would not want Britain’s EU partners to fear that they would have to pay more or less to the European Union budget because of the cessation of British membership in the EU 2020 of the current EU budget period.
May stated that Britain was fulfilling all the financial obligations it had made against the EU during its EU membership.
However, he did not break down these financial obligations by numbers, but stated that the unofficial statements made in this context were “overstated.”
The Financial Times has recently announced that, according to its calculations, the European Union may submit a one-hundred-billion-euro one-time gross payment claim to London for an agreement on the conditions for termination of the British EU membership. According to the London Business Day, by eliminating EU payments for the UK, this would mean a net payment of EUR 60 billion.
Since then, the British government has stated in several declarations that it will certainly not accept and pay such a Brexit account.
British press reports suggest London’s initial bid amounted to EUR 20 billion, but the EU is alleged to be inadequate.

Source: MTI / Image: hirek.ma /

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