In the coming months, UK and EU negotiators are set to lock horns over one of the most bitter parts of their ‘divorce’: the Brexit bill.
On our podcast this week, IEA Chief Economist Julian Jessop and Digital Officer Madeline Grant discuss the likely bill Britain could end up paying to the European Union. Estimates of this sum vary wildly, ranging from the EU’s hefty initial demand of €100bn to nothing at all at the lower end!
Julian argues that the "upper limit" for any payment should be £26 billion - this would cover Britain’s spending commitments up to the end of the current EU budget in 2020, and would be a sensible step in forging a strong relationship with our European neighbours. The sum should be contingent, however, on reaching an acceptable trade deal.