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EU’s own auditors report spending at all time high of £209bn – and climbing

The European Union plans to spend extra money than ever prior to after making file-breaking fee commitments value about £209.54 billion closing 12 months.

The debt, referred to as the reste à liquider, should be paid from long run EU budgets, which face a shortfall of about £17.55 billion a 12 months after Britain leaves the bloc. 

Total spending in 2016 was once £119.7 billion the similar to £234 for each and every of the EU’s 510 million voters, the bloc’s audit company stated. Auditors estimated that there was once a three.1pc “level of error” in EU spending closing 12 months, which means about £three.7 billion was once wasted.

Brussels is tough a monetary agreement of as much as £87.7 billion as the cost for Brexit. The fourth spherical of negotiations shut in Brussels as of late with little hope of a leap forward at the so-known as Brexit invoice.

Theresa May promised closing week to pay into the EU funds till 2021 and requested for a two-12 months transition duration…

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