The cost of Brexit: Who pays what?

Brexit cost
By Eleanor O'Neill, CA Today

20 June 2017

Estimations on the potential cost of Brexit to Britain have varied widely. The projection from European Commission President Jean-Claude Juncker sets the figure at around €60bn (£52.1bn) but other estimates predict that amount to be halved or doubled.

Professor Iain Begg, Professorial Research Fellow at the London School of Economics and Political Science (LSE) and Senior Fellow of The UK in a Changing Europe, set out his own analysis of how the price of Brexit may be collated.

In a report entitled 'How much will Brexit cost?', Professor Begg balanced potential EU debts with the existing EU assets that the UK could benefit from. He concluded that his 'best guess' of a total would fall at around €30bn (£25.7bn).

However, acknowledging that such a complicated issue has no clear answer at present, he wrote: "One of the main reasons this is so contentious is that if the UK does not pay, someone else will have to pick up the tab... What, therefore, would be a reasonable amount? 

"No one really knows - it is, after all, a negotiation on many fronts, and it must be expected that a satisfactory outcome on the money will influence other dimensions such as the quality of a trade deal."

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Estimated cost of Brexit

Topics

  • Political landscape
  • Business
  • Europe
  • Brexit

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