EU Budget: Contributions

Treasury written question – answered on 8th June 2020.

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Photo of Richard Holden Richard Holden Conservative, North West Durham

To ask the Chancellor of the Exchequer, what estimate he has made of the UK's (a) gross and (b) net contributions to the EU in the event that the transition period is extended for (i) 2021 and (ii) 2022.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Government has been very clear that it will not accept an extension to the transition period. Indeed, Section 33 of the European Union (Withdrawal Agreement) Act 2020 prohibits the Government from extending the transition period.

Both the EU and the UK have committed to agreeing a future partnership by the end of 2020 in the Political Declaration and that is clearly in the interests of both sides.

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