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The EU is spending your cash like a drunken Luxembourg bureaucrat

By August 22, 2018February 18th, 2021No Comments

THE EU’S DASH TO SPLASH YOUR CASH

HOW PAYMENTS TO MEMBER STATES FROM EU’s £410 bn ‘ESI’ FUND ARE RISING FAST

Sorry, British MPs, but you are powerless to control this expenditure and can only put an end to it by voting for a full, clean, real Brexit

EXCLUSIVE: Payments to other member states out of the EU’s £410 billion ‘ESI’ Fund have risen substantially since the UK’s Referendum decision to leave the EU.

In 2016 the UK voted to leave the EU. The EU already had budgets for all its activities. One of its funds is the £410 billion pound ESI Fund, out of which the UK gets very little benefit, receiving just 3.58% of the total, despite being the second-largest member state.

We show how the EU has accelerated its initial payments for planned projects under this fund since the UK’s decision to leave.

BREXIT FACTS4EU.ORG SUMMARY – PAYMENTS GROWING FROM ESI FUND

EU has already paid out more in first 8 months of this year than in all of 2015

Payments already total £19.7 bn this year, compared to £13.4 bn for 2015 as a whole

Payments to be more than double those in the year before UK’s decision to leave

Statistical note: for 2018 we have pro-rata’d the EU’s payments up to and including yesterday, 21 August 2018. We show the payments in the year to date, projected to 12 months, in order to show a comparison with previous years.

HOW YOUR MONEY IS BEING SPENT

It is certainly the case that the EU’s projects usually start slowly, each time there is a new ‘multi-annual financial framework’ (MFF) which lasts 7 years. The current MFF is from 2014-2020.

However, our research shows that there has been no attempt by the EU to cut back on its spending in any way. In fact the initial payments under this £410 billion fund have rocketed since the Referendum. We can find no record of projects which have been cancelled or postponed as a result of the UK’s vote to leave the EU.

We should stress that these are merely initial payments, and in many cases these payments have been made ahead of projects even starting. The full cost of this profligate EU Fund is £410 BILLION POUNDS, as we have said.

EU COULD HAVE BEEN SENSIBLE, AND SCALED DOWN

Brexit Facts4EU.Org has repeatedly pointed out that when the UK voted to leave, only a small proportion of the EU’s total budget for 2014-2020 had actually been decided.

In the case of the £410 billion ESI Fund, just £52 billion (approx 13%) had been decided in 2015. In 2016 after the Referendum vote it would have been possible for the EU to have scaled down its ever more ambitious plans, at no cost either to itself or to the member states who would have been the beneficiaries, other than the disappointment caused by the cancellation of hoped-for projects.

OBSERVATIONS

NO CERTAINTY OF FUTURE UK BANKROLLING OF EU

The EU has been unable to produce any legal justification whatsoever for its claim that the UK should make a ‘financial settlement’ at the end of the Article 50 notice period on 29 March 2019.

Studies by the anti-Brexit House of Lords Brexit Committee, and by Lawyers for Britain, have concluded that no legal obligation exists to make any payment.

And if the EU had any legal argument countering this, it would of course have produced it long ago.

Nevertheless, the current Prime Minister Theresa May has proposed that not only should the UK continue making payments until the moment of supposed exit, but that we will also pay an extra amount: c £40 billion pounds; plus continuing payments for a Transition Period up to December 2020; plus unspecified payments for a variety of EU programmes, such as the burgeoning EU Army.

This is just one of the many reasons why Mrs May must depart without delay.

THE PRECAUTIONARY PRINCIPLE

On the Referendum result, and if the EU were a publicly-quoted company, its finance director would almost certainly have made a contingency in the accounts for a dramatic drop in income. This would have been done as a precaution in the event that the UK exited without a special deal involving any ex-gratia payments.

NOTHING IS AGREED UNTIL….

It is important to stress that all aspects of Brexit negotiations which have notionally been agreed so far are on the same principle as that used by the EU: “Nothing is agreed until everything is agreed”. As such, it remains the case that the EU could theoretically become “bankrupt” on 29 March 2019.

With only 13% of the ESI Fund decided upon in the year before the Referendum, the EU could have adopted a prudent approach and scaled down its grandiose plans.

Instead, the EU has ploughed ahead with no thought to any mitigation of its liabilities in the event of the UK exiting on WTO terms. Such an event would require no massive payments to the EU from the UK. These are fundamental matters and we find it shameful that they are never discussed in the Establishment media.

[Sources: EU Commission] 06.55am, 22 Aug 2018

http://facts4eu.org/news.shtml