European Investment Bank

Department for Exiting the European Union written question – answered on 18th September 2018.

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Photo of Layla Moran Layla Moran Liberal Democrat Spokesperson (Education)

To ask the Secretary of State for Exiting the European Union, what estimate he has made of the cost to the public purse of giving up the UK's share of European Investment Bank assets in the event that the UK leaves the EU.

Photo of Robin Walker Robin Walker The Parliamentary Under-Secretary of State for Exiting the European Union

We have agreed a fair financial settlement with the EU. We have ensured that all relevant assets are taken into account and the settlement is adjusted accordingly, and that our capital in the European Investment Bank will be returned to us.

The UK also believes it may be mutually beneficial to maintain some form of ongoing relationship with the European Investment Bank Group after leaving the EU, and we are exploring these options with the EU as part of the negotiations on the future relationship.

There is no question in any scenario that the UK will give up its share of assets.

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