A new report by the Conservative European Research Group and Lawyers for Britain has found that legally it is the European Union that owes Britain a Brexit bill – of £9.3 billion.
The report states that: “Overall the UK should be entitled on exit to a net payment in its favour, corresponding approximately to the value of its capital invested in the EIB (European Investment Bank)” with Conservative MP Suella Fernandes insisting that: “the European Commission has no legal claim for a Brexit payment”.
After paying into the EU as a cash cow for so long, negotiations should of course take into account the UK’s share of the European Union’s assets.
Whilst this may not go down well in Brussels, it is a big dose of financial reality. Rather than grandstanding and making ludicrous demands for €100 billion, the EU’s negotiators should be focusing on securing a mutually beneficial trade deal.