And experts with Facts4EU have warned Britain is currently committed to making payments to the bloc for more than 40 years – with no fixed amount in terms of how much it will eventually end up paying. Using the European Commission’s accounts for 2019, the pro-Brexit think tank revealed the value of the bloc’s pensions and benefits fund stood at an eye-watering £84.47billion ($98.1billion) by the end of the year.
The figure rose by £14.8billion ($17.19billion) in the course of 12 months – in other words, by 21.4 percent.
The Commission has explained the sharp increase by saying: “The increase is mainly due to the actuarial loss from financial assumptions”.
Meanwhile, Facts4EU’s report pointed out there was no fixed amount contained within Mrs May’s withdrawal agreement in terms of the total amount the UK was liable for.
Their warning is backed up by advice published by the House of Commons Library Research Service, which states: “There is no definitive cost to the settlement.
“The final cost to the UK will depend on future events such as future exchange rates and EU budgets.
“The Office for Budget Responsibility estimate that the net cost to the UK may be £34 billion.”
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“This open-ended EU bankrolling scheme was agreed to by the EU-appeasing British government of Mrs May and her pro-EU British civil servants, and they got precisely nothing in return.”
He added: “We do not and have never believed the OBR’s estimates for the total costs which the UK will end up paying to the EU.
“As things currently stand, the UK government’s official figures show the UK continuing to pay sums to the EU up to the year 2064.
“Very little is now reported about this appalling EU ransom demand.
“The EU Commission has not forgotten it and neither have we.
“Facts4EU.Org continues to argue for a rescinding of the agreement, as it was so clearly predicated on an acceptable withdrawal and trade deal which the EU has never provided.”
A separate analysis published by Facts4EU in January indicated the UK has so far paid the EU £41billion since voting to leave in 2016.
Commenting, Martin Daubney, a former Brexit Party MEP, told Express.co.uk: “The very notion that British taxpayers should be paying ten billion pounds in honeypot pensions for MEPs, Ursula von der Leyen, Monsieur Barnier, and Guy Verhofstadt, particularly sticks in the craw.
“The thought of them raising their glasses to the UK taxpayer as they wallow in their retirement is the final insult and the final confirmation that we did the right thing to sever the umbilical cord to the European Union on December 31.
“This absolutely cements Theresa May’s standing as the worst Prime Minister Britain has ever had.”