Monday, 5 January 2015

The EU explained: What it costs & how it works

Origins: The origins of the EU are in the post-war efforts for European reconciliation and integration. Beginning with 6 countries and 170 million people the EU now has 28 members with about 500 million people, bringing together Europe, from the west coast of Ireland to the east of Poland and from the Mediterranean to Scandinavia. Today the EU is the richest and most influential trading bloc in the world. Britain joined in 1973.

What the EU costs

The UK’s contribution to EU Budget

100% → £1750 billion = size of UK economy in 2014 = £4800 million per day = about £75 a day per person.

40% → £730 billion is UK government spending for 2014-15 = £2000 million per day = £31 a day per person

0.4% → £6-7 billion is UK net contribution to EU budget = £18 million per day = 30p a day per person

Thanks to the European Movement UK for the foregoing. Note that from the opening sentence the Movement is unapologetic about the political dimension of the EEC and EU. There is more here.

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