Some say planned for weeks, some say quickly arranged.
Its pointless of course, Mr Junckers little war will continue.
Where is Macron sitting and will you be buying a ’round’ Mr Juncker or just sponging ?
Posted on 10/16/17 | 8:32 AM CEST
You know, adding it all up ‘contributions’, 10 billion, 60 billion trade deficit with the EU every year,(and some guessing on vat amount paid to EU and import duties etc., and all the little ‘hidden things’), one way or another, looks to me (someone could work it out in detail) like the EU benefits from the UK something that could well be approaching £100 billion every year. :-).
Posted on 10/16/17 | 8:35 AM CEST
Not bad. After Brexit this unbalance may go even further upward to the benefit of EU, the way UKGov is dealing with the issue.
Posted on 10/16/17 | 8:44 AM CEST
This is Theresa May’s ‘moral victory’, entirely designed to reinforce her domestic position. She will be seen to have gone ‘the extra mile’ in search of a Brexit deal but will be stonewalled once more by the EU’s Unholy Trinity (demands for an unaccountable ‘exit bill’ methodology, annexation of Northern Ireland, ECJ extraterritoriality). She will then be able to prepare for a ‘no deal’ Brexit without serious distractions from pro-Remain elements in the UK.
Posted on 10/16/17 | 8:48 AM CEST
Brits- poor begars for some more concessions..
Posted on 10/16/17 | 8:50 AM CEST
@Jack Book, the 0.3% of weighted VAT is only 100-200M a year or so, the main contribution is the 0.7% GDP and there’s very little else, that s why 18bil is usually referred, not 18 bil plus the VAT contributions. Where on earth do you find 100 billions?
Posted on 10/16/17 | 8:51 AM CEST
Go up ? Do you have any reasoning behind that statement or just another doom monger ?
I fail to see how it could go up, when according to all the doom mongers we wont have a penny to scratch our @rses.
Unfortunately The UK gov are dealing with Mr Juncker who is responsible for ‘dealing with it’….
Posted on 10/16/17 | 8:56 AM CEST
It should not require much to unlock the exit negotiation in Brussels. But Mrs May is going there with her hands tied behind her back by her cabinet’s divides.
She tried hard to stand on a middle ground between hardliners and soft Brexiters. But the snap election didn’t deliver the leeway she was needing to manoeuvre.
Her muddle approach of Brexit is not something personal from a lack of abilities but is resulting from where she stands in the middle of the political British divides.
Making the big gap between the positions of each other is the worse solution for the country. You can’t always concede this to one side then its contrary to the other side
The choice is not between leaving the EU or remain anymore, but about settling divorce terms or not.
Mrs May must take a side and stand by it. Now, in Brussels, then in front of Parliament in Westminster. If she doesn’t then she’ll be ousted by the stronger side anyway.
Posted on 10/16/17 | 8:59 AM CEST
If I simply add deficit £60 billion, to the 10 billion ‘conribution’ I am already 70 billion before taking anything else into account. Now 60% of UK imports are from outside the UK, that’s trillions… A percentage of any import duty on that also goes to the EU… no, I’m not going any further. Like I said in my post, others may wish to work it out for them selves. You are one of those that may also work it out for yourself.
Posted on 10/16/17 | 9:00 AM CEST
@Jack Boot – There s an idea of the scale, from the uk public revenue site, “In 2018 it is expected that income tax will collect £243 billion, National Insurance collections will amount to £130 billion, indirect taxes will amount to £317 billion, and Business revenue will be £55 billion.” VAT is a subset of the 317Bil in indirect tax, of which 32Bil is not central but local revenue (council taxes etc..) so even if VAT take was say 100Bil, then 0.3% of 100 bil would be a contribution to the EU of 300M.. still a very long way to go to your estimated 100 billions!!!
Posted on 10/16/17 | 9:05 AM CEST
I thought poor beggars are in Bulgaria, highly reliant on EU handouts, no?
Posted on 10/16/17 | 9:11 AM CEST
It’s very easy stuff to follow, and you can use all the creative book keeping you like but you cannot hide the very simple facts.
UK trade deficit with the EU = 60 billion per year, contributions are 10 billion.
-60 -10 = -70 billion (minus because its going OUT of the UK TO the EU.
Now, take Germany, its trade surplus with the EU is 80 billion, contribution is 24 billion
+80 – 24 = 56 billion BENEFIT FROM THE EU per year.
Posted on 10/16/17 | 9:19 AM CEST
According to this logic the UK has 0 (well sub zero) benefit from the internal market. I wonder why do business associations of all major economy sectors advocate for staying in the single market and why does not UKGov simply walk away. I guess they are not able to calculate as good as you can ?
Posted on 10/16/17 | 9:27 AM CEST
I can lead a donkey to water but I can’t make him drink.
Everyone wants to trade, so do I and so does the EU because the EU benefit from trade with the UK to the tune of 60 billion every single year. The UK also wants to trade, those UK companies that trade can and do still make a profit in the EU or they wouldn’t do it. Simply because one exports less than one imports doesn’t mean that its not worth trading. I do NOT however see the point of sunsidising the EU by making ‘contributions’ when the balance of trade is in the EU’s favour… Talk about wanting cake and eating it…
So many reactions… I guess the truth hurts a little. ?
Posted on 10/16/17 | 9:42 AM CEST
“According to this logic the UK has 0 (well sub zero) benefit from the internal market. I wonder why do business associations of all major economy sectors advocate for staying in the single market and why does not UKGov simply walk away. ”
Yes, the UK has a trade deficit with the EU and yes, you may not have noticed just yet but we are walking away.
Posted on 10/16/17 | 9:43 AM CEST
Well, i suppose if we hear from an anonymous source (Martin S anyone) about how the UK is not on the right planet and being naive then it will be a no deal situation because May has not caved, otherwise there is a chance of a deal and the UK has also agreed to give up the Crown Jewels, Elgin Marbles, 100’s of Billions £s and also declare how great a statesman Junker is, as I fear the more the UK “compromise” the more the EU demand, but we will see, perhaps both sides will be civil and enable the best possible case to be developed.
Posted on 10/16/17 | 10:23 AM CEST
“why does not UKGov simply walk away”
The UK gov is walking away. We even have a term for it, its called ‘Brexit’..
Posted on 10/16/17 | 10:23 AM CEST
From Warsaw with love
disMay should’ve been labelled a persona non grata in Brussels since the UK tried to leverage its position in Brexit negotiations through threatening the EU with severing lifes-saving security cooperation and launching a corporate taxation and regulatory dumping war. The UK chose to not only leave the EU but burn all bridges behind. High time to answer accordingly.
Posted on 10/16/17 | 10:40 AM CEST
And it’s only something like 10% of businesses in the UK that do any trade with Europe, but 100% of them must comply with the costly regulations.
When we quit the costs for the 90% will reduce over time, so more savings are available there.
Posted on 10/16/17 | 10:42 AM CEST
@Pax – I thought poor beggars are in Bulgaria, highly reliant on EU handouts, no?
I don’t see here the bulgarian PM going to Brussels to beg for concessions, I see it is the british PM heading to beg desperately from the wealthy EU .
Posted on 10/16/17 | 10:57 AM CEST
@From Warsaw with love
You said “the UK tried to leverage its position in Brexit negotiations through threatening the EU with severing lifes-saving security cooperation and launching a corporate taxation and regulatory dumping war.”
Excellent point. We must remember to do all those things if the EU does not compromise.
Posted on 10/16/17 | 10:59 AM CEST
No. The Bulgarian PM is too busy trying to protect his country’s competitive corporation taxes from EU interference.
Posted on 10/16/17 | 11:01 AM CEST
“I thought poor beggars are in Bulgaria, highly reliant on EU handouts, no?
I don’t see here the bulgarian PM going to Brussels to beg for concessions, I see it is the british PM heading to beg desperately from the wealthy EU .”
You may not be aware, a group of many Eastern EU foreign ministers have already had extensive talks with the UK over dinner in London.
Posted on 10/16/17 | 11:05 AM CEST
From Warsaw with love
A greedy hyena of Europe is biting the very hand that feeds it, that may backfire.
Posted on 10/16/17 | 11:06 AM CEST
By the way last time I was in Bulgaria I was amazed by the number of signs I saw announcing EU funding. Of course, Bulgaria does not get anyway near as much EU funding as it really should do. Compare with other federal countries such as USA, Canada, UK and you will see that the flow of development funds from one state to another in the EU is extremely small. However, they love putting up the signs telling the Bulgarians how much the EU loves them. I wonder if they will have to change these propaganda signs to add the UK flag if the UK makes any payments after brexit ?
Posted on 10/16/17 | 11:10 AM CEST