Norway vs the UK - Brexit could mean 10 Euros per person (per year) higher net contributions to the EU budget.
Because the UK's realistic alternative to the EU is membership of the EEA it is worth comparing Norway's situation to that of the UK. This is a relevant story about how being in the EEA (not having to follow the CAP or CFP) can mean countries having to follow laws and regulations the setting of which countries have not participated in. However, there is also the question about cash.
Full fact have looked at the issue of what our net contribution to the EU is. They conclude it was about £8.5bn in 2015. Norway was a lot less. Their contribution according to This page from the Norwegian government is around 388+447+6+25 Million Euro per year. (ie 886 million Euro - see page for detailed breakdown. However, Norway has a population of only 5m and we have a population of 64m. If you look at the per capita contribution it is £132 in the UK and 177 Euro in norway. The Euro Sterling Exchange rate has varied recently from almost 1.5 to 1.25. Yesterday was 1.267. Converting £132 at that rate gives EUR 167.
The pound has declined because of the threat of brexit on the UK economy. However, on the current exchange rate on a per capita basis were the UK to leave the EU and remain in the EEA (as the agreement says) upon reasonable assumptions as detailed above then our net contribution to the EU would be higher.
Full fact have looked at the issue of what our net contribution to the EU is. They conclude it was about £8.5bn in 2015. Norway was a lot less. Their contribution according to This page from the Norwegian government is around 388+447+6+25 Million Euro per year. (ie 886 million Euro - see page for detailed breakdown. However, Norway has a population of only 5m and we have a population of 64m. If you look at the per capita contribution it is £132 in the UK and 177 Euro in norway. The Euro Sterling Exchange rate has varied recently from almost 1.5 to 1.25. Yesterday was 1.267. Converting £132 at that rate gives EUR 167.
The pound has declined because of the threat of brexit on the UK economy. However, on the current exchange rate on a per capita basis were the UK to leave the EU and remain in the EEA (as the agreement says) upon reasonable assumptions as detailed above then our net contribution to the EU would be higher.
Comments