EU to “bleed us dry” of another £64.2 billion (net) by 2020

Lord Stoddart

In response to a written question from the independent Labour Peer, Lord Stoddart of Swindon (Hansard 6.01.15), Lord Deighton, the Commercial Secretary to the Treasury, has provided confirmation via data from the Office of Budget Responsibility, that the UK will spend £64.2 billion (net) on EU membership between 2014 and 2020, £97.7 billion gross.

Commenting on the Government’s response, Lord Stoddart said: “I have had to combine the annual totals myself but these statistics make it very clear that we are going to continue to pay through the eyes, ears and nose for our ongoing membership of the EU, for the rest of the decade. The EU will bleed us dry to pay for public services in other member states, while steadily dismantling our Parliamentary democracy and freedoms.

“Apparently, the Government is perfectly happy with this situation and these appalling costs, despite telling us that we face four more years of austerity and with no real sign of our £1.6 trillion national debt coming down. In other words, we are financing these grotesquely huge figures out of borrowed money. We should never lose sight of the fact that we are passing these monstrous debts on to our children and grandchildren. They will pay for our mistakes and, in particular, for the folly of EU membership.”

The full text of Lord Stoddart’s question, the Government’s reply and the contributions table is as follows:

Hansard 6th January 2014, column WA137

EU Budget: Contributions: Question asked by Lord Stoddart of Swindon

To ask Her Majesty’s Government what is their present projection of the United Kingdom’s gross and net contributions to the European Union budget for the whole of the seven year budget agreement 2014–20.[HL3534]

The Commercial Secretary to the Treasury (Lord Deighton) (Con): The independent Office for Budget Responsibility is responsible for forecasting UK gross and net contributions to the EU Budget. The Office for Budget Responsibility’s forecasts can be found in Table 2.19 of its Economic and Fiscal Outlook supplementary and fiscal tables – December 2014 (See link below)

EU Contributions