Britain will likely be paying its Brexit “divorce invoice” till 2064, the Treasury watchdog says – 45 years after departure day.
The Workplace for Price range Accountability places the price of the monetary settlement with Brussels at £37.1bn, in keeping with the determine quoted by Theresa Could.
For the primary time, the OBR estimates how lengthy Britain will likely be settling it money owed, suggesting the invoice is not going to be paid in full till 2064.
And it says extra will likely be paid out annually than Britain recoups in realising its share of belongings from membership from 2030 and for the next 34 years.
Though the annual funds are small from the center of the subsequent decade, the state of affairs is more likely to anger some Brexiteers, not least as a result of they’re largely to fund the pensions of EU officers.
In its verdict on the Spring Assertion, the OBR mentioned it nonetheless lacked a “significant foundation to foretell the exact consequence of the present negotiations with the EU”.