Brexit: the financial settlement

House of Commons Library

Metadata
Provider: 
UK Parliament researchUK Parliament research
URL: 
https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-8039https://researchbriefings.parliament.uk/ResearchBriefing/Summary/CBP-8039
Retrieved on: 
Friday, October 18, 2019
Information
Tags: 
Disaster preparedness, Negotiation, Organizations, International organizations, Budget of the European Union, World, European Union, Brexit divorce bill, Brexit negotiations
Summary
Key Points: 
  • House of Commons Library

    The financial settlement - often labeled the 'exit bill' or 'divorce bill' - sets out how the UK and EU will settle their outstanding financial commitments to each other.

  • In the financial settlement (the settlement), the UK and EU have set out how they will settle their outstanding financial obligations to each other, which arise out of the UKs participation in the EU budget and broader aspects of the its EU membership.
  • The settlement sets out the financial commitments that will be covered, the methodology for calculating the UKs share and the payment schedule.
  • The contingency is seen by the EU as a way of minimising disruption and facilitating an alternative financial settlement between the EU and UK.
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2019 UK Parliament research. All Rights Reserved.