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Brexit ‘Divorce Bill’ cost.

M

Martyn Miles

pfm Member
We now have a figure of between £34 billion and £39 billion to pay to leave the EU.
Will some clever person explain to me how a country like ours, so deeply in debt,
is going to find that sort of money ?
 
£150 million a week x 52 weeks = £7.8 billion a year (real cost to UK of EU-ish). So viewed in that way it's only about 5 years of EU membership costs. And if we borrow the money to pay for it now, the massive f*ck up our economy will become will mean rampant inflation will significantly reduce the real debt we pay. Of course there will be all the suicides, dead babies, unemployed, no money for the margins of society, less funding for healthcare, less funding for education et al. Society may fall - BUT ON PURE 2017 POUND NOTE TERMS it's not that bad. (Just ignore the dead babies)

Of course we'll have to spend a lot more than £150m a week to replace the things that the EU does for us and everyone else in the EU reasonably efficiently. Such as centralised legislation on safety, pharmaceuticals, environment et al. Even if we pass a law saying horses and hounds can hunt the greater crested newt, badger and slow moving pensioners now, we will need all those extra civil servants to pass those laws. And probably a few extra policemen to cart off the newt hunt saboteurs.
 
Cav said:
Are dead babies an outcome of staying or leaving? Either way where is the evidence?
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Evidence? Are you asking me to be an "expert"? Haven't you heard? We don't kow-tow to "experts" any more! Rhetoric before data! Lies before evidence! £350M, just like Norway, they need us as much as we need them, the cheque is in the post, I won't come in your mouth and everyone backing Brexit has the concern of the common man at heart, and in no way wants exploit the population farther than the EU would allow. These billionaires, you'd probably like them if you (were allowed to) met them socially.

And of course, the shrinking economy post-Brexit could only lead to more money spent on the disadvantaged, Especially if delivered by the people who brought you Austerity(tm). Trust them. So many less disadvantaged living marginal lives that way. Gig economy, less wages, less tax, no pensions - how could it go wrong! And johnny foreigner and highfalutin court can go whistle!
 
Sovereignty, dear boy. Sovereignty. Don't underestimate the misty eyed allure it has for some people. As we stand on the aft-deck sinking further into the atlantic's freezing depths we can stare lovingly at the royal ensign, salute and proudly proclaim 'this is my ship', and that's all that matters (apparently).
 
Cav said:
Norway is in debt. The whole world works in debt.
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There is operating debt, debt less government assets, debt less government assets and less strategic funds.

Norway has an operating debt - but is positive in the other two categories. Because running a country is not a Micawber exercise. Norway knows it is better to borrow cheap and invest in assets. A lesson apparently lost on Austerity conservatives, who must love Dickens more than poor people.
 
And where is the figure of £34 - £39 billion pounds coming from?

"
The text does not mention a specific figure in regards to the financial settlement Britain must pay.

However, it does say that Britain will pay its share of EU budget commitments "outstanding at 31 December 2020." This means Britain will make payments to the EU until the end of 2020, nearly two years after exit day in March 2019.

These financial commitments round up to about £50 billion."
 
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