As the United Kingdom prepares to leave the European Union, one of the most contentious issues has been the so-called “divorce bill,” or the amount of money the UK will owe the EU upon departure. This amount, agreed upon in the Withdrawal Agreement, has been estimated at £39 billion.
The Withdrawal Agreement outlines the terms of the UK`s departure from the EU. It covers a wide range of issues, including citizens` rights, the Irish border, and the financial settlement. The financial settlement, or divorce bill, is perhaps the most controversial part of the agreement.
The £39 billion figure is based on the UK`s commitments to the EU budget up until the end of the current budget period in 2020. This includes contributions to the EU`s ongoing programs and projects, as well as outstanding liabilities such as pensions for EU officials.
Critics of the bill argue that the UK should not have to pay such a large amount, as it has been a net contributor to the EU budget for many years. They also argue that the EU should be more flexible in its negotiations and willing to compromise on the bill.
Supporters of the bill, however, argue that the UK has made commitments to the EU budget and should honor those commitments. They also argue that the bill is a small price to pay for the benefits of continued access to the EU market and cooperation on issues such as security and defense.
Regardless of one`s opinion on the bill, it is clear that it will have significant implications for both the UK and the EU. The £39 billion will need to be paid over a number of years, and the exact terms of the payment schedule will need to be negotiated. The bill will also affect the UK`s negotiating position in future trade deals and may have a significant impact on the UK economy.
In conclusion, the Withdrawal Agreement`s £39 billion divorce bill is a contentious issue that will have significant implications for the UK`s relationship with the EU. While some argue that the bill is unfair, others argue that the UK has made commitments to the EU budget and should honor those commitments. As the UK prepares to leave the EU, it will be important to carefully consider the implications of the bill and work towards a resolution that is fair and equitable for both parties.