EU Budget: Contributions

(asked on 23rd November 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to Table C5 of the 2017 Autumn Budget 2017 and Table B.4 of the Office for Budget Responsibility's Economic Economic and Fiscal Outlook November 2017, when the forecast own resources contribution to the EU of £3.5bn in 2019-20 and subsequent years will be reallocated to domestic UK spending, what plans he has for these monies; and if he will make a statement.


Answered by
Elizabeth Truss Portrait
Elizabeth Truss
This question was answered on 30th November 2017

The Office for Budget Responsibility’s independent forecast has maintained EU contributions past the point of exit in order to produce a fiscally neutral forecast; they have made no assumptions on the outcome of future policy decisions. The funding choices we take after exiting the EU will be based on the UK’s domestic priorities and will also be affected by the then economic environment and the fiscal position. We are determined to secure the very best deal we can for households and businesses in these negotiations and to seize the opportunities ahead by laying the foundations of a stronger, fairer Britain outside the EU.

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