UK Audit Office: Brexit divorce bill to exceed GBP 39bn

Dhwani Mehta FXStreet

The UK National Audit Office (NAO), in its latest review report, warned that the Brexit divorce bill figure could be higher than GBP 35-39 billion (bn) estimated by the UK PM Theresa May.

Key Highlights:

Brexit divorce bill will exceed GBP 39bn

UK could pay an extra GBP 3bn more in budget contributions.

As well as an additional GBP 2.9bn to the European Development Fund.

Auditors have concluded that the Treasury's estimate includes GBP 7.2bn of receipts which will go directly to the private sector and not to the government's accounts.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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