The true cost of being a member of the European Union is £660 million a week not the £350 Million we were led to believe when we held the referendum back in 2016.
This includes more than £80 billion lost to the Treasury after the European Court of Justice forced tax rebates to multinationals and £50 billion in Eurozone bailout obligations. In membership fees alone, after the rebate has been returned Britain has paid out £70.6 billion in fees. But the Bruges Groups says our real financial commitment is £275.08 billion
The true cost to Britain of being in the EU has been £660million a week
Over seven years that is £34.3billion a year, or £661,260,000 a week.
This includes £7billion in welfare payments to EU citizens living in the UK.
In 2014 the UK was forced to hand over an extra £1.7billion after the EU bust its budget.
It was the year that then chancellor George Osborne announced a £12 billion welfare cut as part of a plan to mend Britain’s deficit.
Crucial to the equation, says the Eurosceptic group, is the £40 billion spent on propping up the euro and bailouts.
It includes £6.6 billion to bail out Portugal and Ireland, with £32 billion given to the European Investment Bank, and £1 billion to the European Central Bank. The European Central Bank received £1 billion.
Between 1995 and 2011, immigrants from outside the EU made a negative contribution of £118 billion over 17 years, the report found, using more publicly-funded services, including the NHS, education and benefits, than they paid in tax.