3. EU budget and UK contribution

brexit-fact-base-london — Photo by RomanR/Shutterstock

UK contribution was, in net terms, about 0.4% of GDP a year
- less than 1.2% of public expenditure in 2019
For 2019, UK contribution was:
- £14.4 billion gross after rebate
- £7.9 billion after public and private sector receipts
- £152 million a week (or 32p per person per day)
Economic benefits of EU membership added an estimated 4% to UK GDP (IFS)
- about 10 times the UK’s net contribution to EU
- in 2019, GDP was £2.3 trillion which meant EU membership was worth:
  - ~£90 billion (vs £7.9 billion net contribution)
  - ~£1,700 million a week (vs £152 million net contribution)
  - ~£1,345 per person for the year (or £3.68 per person per day vs 32p)
UK financial settlement estimate (2020-2065) was £30.2 billion in March 2024
- UK had paid £23.8 billion (80%) by December 2023
- balance outstanding at March 2024 – £6.4 billion
- separately, UK pays to participate in any EU programmes that it joins post Brexit (e.g. Horizon)