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.

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

Observations

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

Reports like the one above take far longer to research, write and produce than many people realise. If they were easy, readers would see other organisations also producing these daily. However, there’s little point in the Facts4EU.Org team working long hours, seven days-a-week, if we lack the resources to promote them effectively – to the public, to MPs, and to the media. This is where you come in, dear reader.

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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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Reader Comments 12

11. jon iivesey , Wednesday, February 07, 2024, 18:43:

9. Have You Wondered , "Did the UK leave the EU - or Europe altogether?" My answer is that we were never really part of Europe, even historically. And you can see signs of that everywhere. The UK is a Parliamentary democracy with strong human and civil rights, while Macron rules by decree, the French Parliament is almost powerless, he appoint and dismisses Prime Ministers when he wants,and there are pretty strict limits on rights and free speech in France. Take a photo of a policeman beating an immigrant and you are the one committing a crime.
Even when we were temporarily in the EU, we were really associate members, we never joined the euro, for example, and the real cause of Brexit, IMHO, was the removal of national vetoes, which would have made us into full members, whether we wanted that or not.
Sparky gives us a "real" reason for Brexit every day of the week, all different, but I think the fundamental cause is obvious - we got out while we still could.

12. Andy , Thursday, February 08, 2024, 15:56:

The UK has never been a European country: we have a fundamentally different history to the vast majority of continental European States. We should never have joined the EEC in 1972 but remain with EFTA. It was a serious mistake to abandon this and it allowed the EU to develop in the way it has. English and subsequently British policy has always been based on the idea of balancing power, that we formed alliances to counter the strongest power which was sometimes Spain, sometimes France and latterly Germany. It has been the lot of the English/British to frequently have to save the Europeans from themselves. I rather think history will repeat itself with the EU.

12 comments, page 2 of 2

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