UK is facing a '?18 billion divorce bill for Brexit'

[super jumbe]

Britain is facing a ?divorce bill? of up to 20 billion euro (?18 billion) as the cost of leaving the European Union, it has been reported.

The Financial Times has calculated that more than 300 billion euro (?270 billion) of shared payment liabilities will have to be settled in Brexit negotiations.

The 20 billion euro ?upper estimate? was said to cover the UK?s share of continuing multi-year liabilities including 241 billion euro (?217 billion) of unpaid budget appropriations, pension liabilities of 63.8 billion euro (?57.5 billion), and other commitments totalling around 32 billion euro (?29 billion).

The FT said its analysis represented the first attempt to quantify the UK?s liabilities on leaving the EU, with some officials in Brussels warning that the final figure could be higher.

https://uk.news.yahoo.com/uk-facing-18-billion-divorce-113949044.html

[GastonJ]

"The Financial Times has calculated that more than 300 billion euro (?270 billion) of shared payment liabilities will have to be settled in Brexit negotiations."

More debt to be added to the national debt then. I must say the governments of the last 6 years have really save money with all the cutting of services and everything else, what a decent bunch they are .....

[super jumbe]

Haven’t we already paid over ?500 billion over the years? If it will genuinely cost ?18 billion for the United Kingdom properly extricate itself from the EU then that would be money very well spent. I'm looking forward to the British government invoking Article 50 of the Lisbon Treaty as soon as possible.

On the hand didn't Iceland tell the world to sod off after the banks destroyed the banking system. No one went after them if I recall correctly. Well we should do the same to the EU if they keep agro!!!

[GastonJ]

Yeah tell them to sod off, then the UK based car makers can pay the tariffs to sell cars in the EU or they can move to say Poland, make them cheaper and not have to pay import tariffs.... Oh yeah downside is more unemployed in the UK. The UK will never default on a debt.

[androidtvuk]

This is a financial disaster. We will all pay thru the nose for stuff from european countries now, especially food, add that up over a year!

[ifred]

This is a financial disaster. We will all pay thru the nose for stuff from european countries now, especially food, add that up over a year!

then we would NOT buy their Panzer that will FU merkel and EU budget ( Side issue EU budget not signed off by auditors since 1994)

[GastonJ]

If you don't buy a foreign car what car do you buy? A Morgan? All the rest are either US/Japanese or Indian owned.

[ifred]

If you don't buy a foreign car what car do you buy? A Morgan? All the rest are either US/Japanese or Indian owned.

If you buy a Japanese or Indian car it won't be a German building it or a Spanish or polish worker building it for German profit!
Mrs Merkel will change her tune!
IMO when the oil wholesale price war ends and Govt start paying for Hinckley we'll all be joining Meaty cycling or walking, Fuel too expensive, electricity too expensive best use for your car then will be as a flower pot

[gmb45]

18bn not bad will be saving 12bn a year after a year n a half

[lush29]

18bn not bad will be saving 12bn a year after a year n a half

Thats what they said on campaign?[emoji23]

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[lush29]

If wasn't for german or french cars will all not be here. What for ? honda crash data? Toyota o2 sensor dtc? You can correct milles because at 2xx engine blows.

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[rds60h]

Yeah tell them to sod off, then the UK based car makers can pay the tariffs to sell cars in the EU or they can move to say Poland, make them cheaper and not have to pay import tariffs.... Oh yeah downside is more unemployed in the UK. The UK will never default on a debt.

UK car manufacturers and those employed by them are very small numbers, for example Luton Vauxhall that produces the Vauxhall and Opel Vivaro, the Renault Trafic and the Nissan Primastar employes just over 1,000 people, in the 1970's and 80's over 34,000 were employed at the Luton Vauxhall plant which at that time produced a full range of cars, small and medium sized vans, trucks and coaches and the vast majority of the vehicle parts were made on site, where as now the vans are basically assembly kits.
Anyhow, with the pound being weak there should be a greater demand for vehicles exported from Britain. Car Manufacturers do look to produce their vehicles cheaply but they also want quantity and quality and the British Plants have proved to be world class at that which is the reason that the Japanese Companies have based here and have found the vehicle build quality and cost per man hours even better than their own home based factories.

[GastonJ]

But the likes of Nissen are refusing to invest unless underwritten by the taxpayer. Joe public will be paying for this one I dare say. Don't expect to see even one penny of the claimed ?13 billion a year. If anything expect prices to go up.

[nara]

Thats what they said on campaign?

Which was, of course, total bullshit.

[GastonJ]

Anyhow, with the pound being weak there should be a greater demand for vehicles exported from Britain..

and goods being imported into the UK will cost more, and are costing more now. The UK imports 40% of the food it consumes, with the weaker pound that will cost more and right now we're still in the EU. Oil will also be costing more with the pound being weaker against the dollar (did the oil companies really need an excuse), almost half of the fossil fuel the UK uses is imported (did energy companies ever need an excuse either). And it sure isn't Michael Gove and his mate Boris who will be paying the price of the weaker pound. It'll be Joe Public, who's likely to already be living on the edge due to having such a nice company friendly government.