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Brexit ‘divorce bill’ estimated to cost between £35 billion and £39 billion

Britain will have a big bill to pay to leave the EU

Britain’s ‘divorce bill’ for leaving the EU has been costed, and could cost the UK as much as £39 billion.

Downing Street have revealed that a deal has been agreed following all-night discussions, 534 days after Britain voted to leave the EU. The cost of exiting the Union has been valued at between 40 and 45 billion Euros, or £35 billion and £39 billion. When asked if they thought the figure was too much, a spokesman for Theresa May said: “We would look at it as a fair settlement of our obligations.”

In addition, the UK will continue paying into the EU budget in 2019 and 2020 – despite leaving the EU in March 2019 –  “as if it had remained in the EU”. This will add further billions to the cost of leaving the EU.

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Back in September, London mayor Sadiq Khan called for a ‘second referendum’ over Brexit. The following month, a report compiled by The Creative Industries Federation, warned that the removal of freedom of movement – a key factor in Brexit’s removal of the UK from the European Union – would severely negatively impact the UK’s creative sector.

It was recently revealed that Britain’s creative sector generates £9.5 million an hour for the UK economy, but the CIF’s report suggest this could take a huge cut once the UK leaves the EU.

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