The United Kingdom will continue making budget contributions this year under an agreed post-Brexit transition period. The European Commission has had a proposed MFF on the table since May 2018, and its new president Ursula von der Leyen is keen to get it approved soon. Farm subsidies under pressureAccording to European Commission estimates, Britain’s net contribution — the amount it pays in less EU spending on UK projects — would have been 12 billion euros a year. Taking into account the British departure, the current multiannual budget represents 1.16 percent of European Union GDP. After Brexit these reductions in budget contributions will only apply to Austria, Denmark, Germany, the Netherlands and Sweden — perhaps not un-coincidentally, the Frugal Five.

Source: The Guardian January 30, 2020 14:37 UTC