Home The Homefront ‘Sooner we are out, the better!’ The TRUE cost of EU membership...

‘Sooner we are out, the better!’ The TRUE cost of EU membership – almost £1BILLION a WEEK


It puts the true cost of Brussels rule at £980million – almost treble the disputed figure of £350million quoted by Boris Johnson in the referendum campaign and displayed on the side of the Vote Leave battle bus.

The revelation came as British and EU negotiators began the sixth round of Brexit talks in the Belgian capital yesterday.

And it was welcomed by Eurosceptics who said it showed why we need to leave the European Union as quickly as possible.

With Brexit Secretary David Davis and chief EU negotiator Michel Barnier due to meet today, the Government last night underlined its commitment to Brexit with a plan to include an exact time and date when Britain will leave in the EU Withdrawal Bill – 11pm British time on March 29, 2019.

The study on the costs of EU membership, by leading City analyst Bob Lyddon, strongly supports the view of Brexit campaigners that the UK should not pay the EU a big divorce bill of up to £78billion.

Mr Lyddon’s analysis takes into account the money paid directly to the EU budget each week.

The Office for National Statistics says this is £267million once the UK’s rebate is paid back to us and money spent by the EU on projects here is included.

However, he has also added £12billion a year lost to the Exchequer through legal tax avoidance schemes which result from Britain being a member of the EU.

Multinational companies such as Google and Amazon have in the past run their finances through Ireland, Holland and Luxembourg and the only way these loopholes can be closed is by the UK leaving the bloc.

Mr Lyddon has also calculated that the annual net cost of EU migrants – once the tax they pay is deducted from benefits paid out – is £30billion a year.