Question to the HM Treasury:
What steps he is taking to reduce the total net annual financial outflow from the UK to the EU; and if he will make a statement.
The UK and the EU reached an agreement in principle, in December 2017, on the financial settlement for the UK’s withdrawal from the EU. This was set out in the Joint Report on progress during Phase 1 of the negotiations. These principles will become legally binding through a Withdrawal Agreement as set out in the Government’s White Paper on legislating for the Withdrawal Agreement, published in July this year.
Post-exit, decisions on spending will be made based on domestic priorities, considering the economic environment, the fiscal position and the negotiated outcome.