Brussels tells member states to pay more to fill Brexit blackhole in EU budget

The European Union has told member states to pay more to fill the budget blackhole left by Britains exit from the bloc.

Five countries are set to foot the majority of the bill, which will see their annual contributions almost double.

Austria, Denmark, Germany, the Netherlands and Sweden could see their contributions to the EU’s long term budget, also known as the Multiannual Financial Framework, increase dramatically.

Under current proposals, Germany’s net contribution would rise from €16billion (£13.5billion) to €26billion (£22.8million) per year.

Contributions from the Netherlands would increase from €4.5billion (£3.8billion) to €8billion (£6.7billion), while Austria would see its contributions double to €2billion (£1.7billion).

Earlier this week European Council President Charles Michel met with EU negotiations to discuss their priorities for the budget, that will determine spending from 2021-27.

So far EU states have been unable to agree on the the size of the budget, the volumes of the main policy areas, the revenue sources and the possibility to add new conditions and incentives for the disbursement of EU funds.

But time is running out to reach an agreement, as the budget proposals need to be signed up by the European Parliament in time for it to start in January 2021.

Do NOT follow this link or you will be banned from the site!