EU budget doubles - eye-watering trillions now being spent by the EU Commission
“Thank heavens for Brexit” – The British people have had a narrow escape
Montage © Facts4EU.Org 2024
If the UK rejoined the EU, British taxpayers would be facing massive payments
Towards the end of last week the EU Commission issued one of its major statements, outlining the extent of its spending following the latest EU Council Summit on 01 Feb 2024. The sums involved – and the debts being incurred on the world’s money markets – are eye-watering.
Last Friday (02 Feb 2024) we published our report on the huge new debts the EU is incurring.
In today’s report, the Facts4EU.Org think-tank summarises the misery for EU citizens… and the relief for the citizens of Brexit Britain that they are no longer paying for all of this.
The EU’s new 2021-2027 long-term budget has doubled compared to 2013-2020
The EU sets its spending limits in what is known as ‘the Multiannual Financial Framework’, (MFF), the EU’s long-term budget for the next 7 years.
In a break from precedent this budget has just been increased, in the middle of the budgeting cycle.
- The EU Commission’s statement, 01 Feb 2024
This started in 2020, when the Commission announced a “stimulus package” costing €806.9 billion through NextGenerationEU, a temporary instrument “to power the recovery”. At the latest summit of EU27 leaders on 01 Feb 2024 it was agreed to increase the EU’s budget dramatically. This now takes the total to an eye-watering €2.02 trillion in current prices.
How the EU budget has exploded in recent years
Brexit Facts4EU.Org Summary
The growth in the EU Commission's budget, 2007-2027
- 2007-2013 : € 976 bn
- 2014-2020 : € 960 bn
- 2021-2027 : € 2,018 bn
[Sources : EU Commission and EU Council, Feb 2024.]
The overall EU budget including ‘NextGenerationEU’ has more than doubled since 2020.
© Brexit Facts4EU.Org 2024 - click to enlarge
How much would the new EU budget have cost the British people, without Brexit?
Rejoiners are fond of quoting ‘estimates’ from various sources of how much Brexit will cost the UK economy over the next ‘x’ years. These are presented as real costs but of course they are not. They are not based on facts, merely conjecture. The reality is what we show below.
The United Kingdom's share of this total new EU budget of €2.02 TRILLION would have been around 15%, or €302.7bn.
In sterling terms this equates to over £9,000 (GBP) for every household in the UK.
[Sources: Office for National Statistics and EU Commission, Feb 2024.]
The Facts4EU think-tank asked the experienced Sir John Redwood for his comments on our report
The Rt Hon Sir John Redwood MP told us
"The EU was always after our money. Facts4EU reveals just how the EU bills are surging. The latest seven year budget plans show the UK has ducked a £9,000 bill for every family in the country. As the Leave campaign promised, the UK has been able to make a large increase in NHS spending from the savings on bills from Brussels.
The EU is becoming a debt union, building up piles of debt which taxpayers will need to repay one day. In the meantime there will be rising interest bills. The UK government has borrowed plenty so the last thing we needed was big EU debts on top. The other countries of the EU will now have to work out who pays for all this, knowing they cannot send a big part of the bill our way anymore."
- The Rt Hon Sir John Redwood, MP for Wokingham and former Secretary of State, commenting to Facts4EU.Org and CIBUK.Org, Wed 07 Feb 2024
In our report on Friday the Rt Hon Sir John Redwood MP commented: “Facts4EU are the only ones to see the debt elephant in the EU room.”
Today, thanks to the EU Commission, we have exposed the truly gargantuan new EU budget – and the cost to British people had we remained as a member of the European Union. It falls to Rejoiners to explain to the public how the UK’s share of this would remotely have been worth the candle.
Following Brexit our GDP is up, employment is up, and exports are up. Who needs to be governed by an unelected ‘elite’ in Brussels when the newly-independent United Kingdom is doing better than they are?
All we can say is thank heavens for Brexit.
We must get reports like this out there
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[ Sources: EU Commission | EU Council | ONS | The Rt Hon Sir John Redwood, MP for Wokingham ] Politicians and journalists can contact us for details, as ever.
Brexit Facts4EU.Org, Wed 07 Feb 2024
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