Britain says it does not recognize the EU’s estimate of the cost of secession

He said Britain had not approved the EU’s estimate of the total cost of its Brexit settlement and believed the total cost was still within the British government’s original plans.

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Britain and the European Union ended the secession agreement under which Britain continues to contribute to the camp budget, as promised during its membership.

The European Union (EU) on Thursday said it owed Britain 47 47.5 billion (.7 40.77 billion) in a post-Brexit financial settlement.

A spokesman for British Prime Minister Boris Johnson said in a statement: “We do not recognize that number … it is an estimate published by the European Union for its own internal accounting purposes, for example, it does not reflect all payments to the United Kingdom, which reduces the amount we pay.”

The European Union rejects Britain’s interpretation of the figures in the budget statement.

An EU spokesman said: “This figure is $ 47.5 billion, which the UK will repay in the coming years.”

He added: “All calculations were made in accordance with the terms of the withdrawal agreement. The report is final.”

Britain said its cost estimate was within the key range previously set at between $ 35 billion and $ 39 billion.

(Pound sterling = 1.1651 euros)

Source: Reuters

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