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Brexit costs Britain half a billion pounds sterling a week

on Mon Oct 01, 2018 5:46 pm
Every week Britain loses about 500 million pounds sterling every week because of the country's exit from the EU.

Such data was published by the Center for European Reform in its study for the first half of 2018.

In particular, it was estimated there that the direct impact of Britain's exit from the European Union on public finances is 26 billion pounds sterling per year or 0.5 billion a week.

In addition, according to researchers, Britain's economy is currently 2.6% smaller than it would have been if the country's citizens did not vote in favor of a referendum on withdrawal from the EU.

Previously, it was reported that at negotiations in the Austrian city of Salzburg on the withdrawal of Britain from the EU, there was still no agreement on a trade agreement that will be in place upon completion of Brexit.

Earlier in the European Commission stated that the EU and Britain will maintain close trading after Brexit. British Prime Minister Teresa May announced he would personally negotiate with the EU.

Also, the Mayor of London suggests another referendum on Britain's withdrawal from the EU.

Recall that on July 9, Foreign Minister of the United Kingdom Boris Johnson resigned . Johnson's decision was announced 30 minutes before Mae had to speak before Parliament about her new Brexit plan. The Brexit minister, David Davis, also resigned due to dissatisfaction with the results of the meeting with Prime Minister Teresa May, who discussed the exit plan with the EU. For several hours in Britain, a new Brexit minister was appointed - Dominique Raab was named.

Johnson and Davis criticized the UK's exit plan with the EU, agreed by the British government. Queen Elizabeth II gave royal consent to Brexit's law . This plan includes, in particular, the preservation of the free trade area with the EU:

On June 23, 2016, a referendum was held in Britain, which showed that 52% of Britons prefer to leave the European Union.

On March 29, 2017, the United Kingdom officially informed the European Union of its intention to leave the EU by launching the Brexit procedure.

At the talks, Britain and the EU decided to extend Brexit's transition to 2020. It was reported that Brexit's final cost for Britain could reach 55 billion euros. This amount will be paid by the country to the EU by 2064.

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