Brexit will cost Germany billions in increased EU contributions

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Germany will have to increate it’s contributions to the EU budget by €3.8 billion annually after Brexit, according to a report prepared by the EU – a 16 percent increase in Germany’s annual contribution to EU finances.

“Brexit doesn’t just increase the financial weight on the other 27 EU members, it also changes how the contributions will be divided up,” the report continues.

Like the UK, Germany, along with the Netherlands and Sweden benefit from a rebate agreed along with the UK in 1984. But with the UK leaving the EU, Germany will cease to exist.

According to the report, France will have to pay €1.2 billion more per year into the EU budget, while Italy will face an extra €1 billion in contributions after Brexit.

Germany currently pays around €14 billion into the EU budget once its rebate has been deducted. France pays between €5 billion and €6 billion into the kitty.

No on seriously believes that the EU will reduce its out of control spending as a result of the UK leaving the EU, so European capitals face cutting domestic budgets to continue to fund the EU gravy train, or increasing taxes. Neither of which are going to go down well.

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