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Annual European Union Finances Statement

Volume 678: debated on Tuesday 14 July 2020

I am today laying before Parliament the “European Union Finances 2019: statement on the 2019 EU Budget and measures to counter fraud and financial mismanagement” (CP 256). This is a routine annual publication and is the 39th in the series.

The statement gives details of revenue and expenditure in the 2019 European Union (EU) budget, recent developments in EU financial management and measures to counter fraud against the EU budget. It also includes a chapter and annex on the use of EU funds in the UK over the period.

The document also provides an updated HM Treasury estimate of the value of the financial settlement, which was made legally binding by the passage of the European Union (Withdrawal Agreement) Act 2020. Exit from the EU on 31 January 2020 resulted in some UK and EU payments that would originally have been paid post-withdrawal being paid while the UK remained a member state. HM Treasury estimate that the current value of the financial settlement is £30.2 billion. This remains within the Government’s reasonable central range of £35-39 billion, adjusted to take into account the UK’s 31 January 2020 exit date. In annex E, HM Treasury provides an updated summary of the financial settlement, other costs set out in the withdrawal agreement and short-term public expenditure costs.