European Central Bank

‘True’ £660m weekly cost of Britain’s EU membership

In 2014 the UK was forced to hand over an extra £1.7billion after the EU bust its budget.

These figures grossly underestimate the true level of Britain’s financial exposure over the past seven years

Robert Oulds

It was the year that then chancellor George Osborne announced a £12billion welfare cut as part of a plan to mend Britain’s deficit.

Crucial to the equation, says the Eurosceptic group, is the £40billion spent on propping up the euro and bailouts.

It includes £6.6billion to bail out Portugal and Ireland, with £32billion given to the European Investment Bank, and £1billion to the European Central Bank.

European Central BankGETTY

The European Central Bank received £1billion

Last week Brexit critics seized on Treasury figures which, they said, showed the UK paid £156million a week to the EU last year, not the £350million claimed by the Leave campaign.

Robert Oulds, director of the Bruges Group, said: “The point is that all of these figures grossly underestimate the true level of Britain’s financial exposure over the past seven years.”

Posted on; Express.co.uk>>

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