Exiting the EU: The financial settlement – follow-up report
30 November 2018
The United Kingdom (UK) is scheduled to leave the European Union (EU) on 29 March 2019. The government has agreed with the EU the terms of the UK’s withdrawal, including how it will establish a new relationship with the EU during an implementation period.
As part of this agreement, the UK will continue to participate in the EU’s annual budgets in 2019 and 2020 as if it had remained a member state. It will also pay a share of the outstanding commitments and net liabilities that the EU entered into by the end of 2020. This is known as the ‘financial settlement’.
This National Audit Office report aims to provide greater clarity on the financial settlement’s place in the wider context of the government’s agreement with the EU in advance of the ‘meaningful vote’.