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MPs demand May outline costs of Brexit

THE “true costs of Brexit” must be outlined by the government before any final deal is struck, two parliamentary committees demanded yesterday.

The chairs of the public accounts and Treasury committees have written jointly to MPs about the uncertain financial implications of EU withdrawal, claiming there are “further costs” yet to be made clear.

The letter was revealed yesterday while Prime Minister Theresa May was in Brussels for an EU summit.

Before the letter was sent, the public accounts committee published a report suggesting that extra Brexit-related costs will “push the final figure outside of the range” estimated by the government of up to £39 billion.

The costs relate to the “divorce bill” and the transition period up until 2020, as well as continuing commitments to the EU.

Other costs are associated with replacing functions performed by 44 EU agencies in which Britain currently participates, and the payment of contributions to agencies that Britain would remain in after leaving the EU.

The government ‘s estimate fails to include Britain’s commitment to the European Development Fund until 2020, which would cost £2.9bn, the committees asserted.


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