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star this property registered interest false more like this
star this property date less than 2018-07-19more like thismore than 2018-07-19
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Brexit: Costs more like this
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, whether his Department has identified costs in addition to the estimation of a settlement of £35-39 billion that the UK will need to pay as a result of leaving the EU. more like this
star this property tabling member constituency Newcastle upon Tyne North remove filter
star this property tabling member printed
Catherine McKinnell more like this
unstar this property uin 166170 remove filter
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-07-24more like thismore than 2018-07-24
star this property answer text <p>The settlement agreed with the EU represents a comprehensive settlement covering all of the mutual commitments between the EU and the UK. The Chancellor was clear in his letter to the TSC that £35-39 billion is a reasonable central estimate, as agreed in the joint report and produced using publicly available European Commission data. The NAO report concluded this was a reasonable estimate. The OBR estimated, at the Spring Statement, that the settlement would be around £37bn.</p><p>With respect to additional spending to deal with exit preparations HM Treasury has allocated over £2 billion of additional funding to departments and the Devolved Administrations so far. This breaks down as:</p><p>-£412m of additional funding over the spending review period for DExEU, DIT and the FCO at Autumn Statement 2016.</p><p>-£286m of additional funding for 17/18 (a full breakdown of which can be found in Supplementary Estimates 17/18).</p><p>-Over £1.5bn of additional funding for 18/19. A full breakdown of which can be found in the Chief Secretary’s Written Ministerial Statement, HCWS540, laid on the 13th March (https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-03-13/HCWS540/).</p><p>The Chancellor also set aside at Autumn Statement 2017 an additional £1.5 billion for costs in 2019-20. This money will be allocated later this year. The Chancellor was also clear in his letter that the value of the settlement is, by its very nature, dependent on future events and that it was not possible to put a definitive number on it.</p>
star this property answering member constituency South West Norfolk more like this
star this property answering member printed Elizabeth Truss remove filter
star this property question first answered
less than 2018-07-24T13:12:27.02Zmore like thismore than 2018-07-24T13:12:27.02Z
unstar this property answering member
4097
star this property label Biography information for Elizabeth Truss more like this
star this property tabling member
4125
star this property label Biography information for Catherine McKinnell more like this