| 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 OBR’s latest estimate
is laid as part of the wider OBR Economic and Fiscal Outlook publication. The most
recent estimate, £37.8bn, was published in the March 2019 Economic and Fiscal Outlook.
This analysis assumes an exit date of 29 March 2019</p><p> </p><p>The European Council
has agreed an extension to Article 50 to the end of October. During the extension,
the UK will continue to be a member of the European Union. While we remain in the
EU we will uphold our commitments on the EU Budget, adjusted for the rebate. Similarly,
the EU continues to have legal obligations to us as a member state, including in respect
of receipts from the EU budget. We will provide an updated estimate of the value of
the financial settlement once the UK has left the EU.</p><p> </p><p> </p><p>The UK
makes two contributions per month to the EU Budget which will vary from month to month.
These payments are made on the first working day and the first working day after the
19th of each month. As such, it would not be possible to calculate a daily cost of
an extension to Article 50 to the end of October.</p>
|
|
