As reported by Reuters, EU data released early Thursday show how the UK may wind up being forced to continue paying EU membership dues even after Brexit.
Key highlights
The UK has committed itself honouring the EU’s liability and debt structures until 2020, meaning Britain may have to continue to pay rising pension and care costs with the EU, even as the kingdom seeks to go its separate ways.
EU debts that will be passed on to Britiain following Brexit are on the rise, with the EU’s pension liability rising from 67 to 73 billion euro. Meanwhile, Britaan has already pledged to pay out 6.3 billion euros for the EU 2014-2020 budget, with only a billion making its way where its supposed to be.
“This unspent money committed by EU states could be called in before 2020, forcing governments to make large payments in a short period, auditors said, cautioning that not all money might be available when needed because of this backlog.”
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