Project Lie

[Old Greg]

GBP350 million EU claim "a clear misuse of official statistics" - Full Fact

[Mordac]

There is a rebate. And that rebate is never 'sent' to the EU. So how is the rebate available to spend?

If we keep it, we can spend it. Admit it, you're not very bright, are you?

[Old Greg]

If we keep it, we can spend it. Admit it, you're not very bright, are you?

You are still lying. The rebate is never sent so the nominal sum is purely theoretical from a budgetary perspective. So how does leaving the EU free 350 million per week for spending?

[meridian]

If we keep it, we can spend it. Admit it, you're not very bright, are you?

We already spend it, it is not "extra".

[Mordac]

You are still lying. The rebate is never sent so the nominal sum is purely theoretical from a budgetary perspective. So how does leaving the EU free 350 million per week for spending?

We already spend it, it is not "extra".

On a balance sheet, the full amount would be considered as a liability. The rebate would appear in a different column. So in accounting-speak we are removing a £350m-ish liability per week. Technically what OG says isn't numerically wrong, but your accountant might well have a fit if you submitted your annual accounts in such a way. Cash-back on yourco's credit card, for example, has to be recorded in a different column from the invoiced amounts paid out.
I don't know how "discretionary" the rebate is, and I'm certain it will be the first thing we lose if we have to renegotiate a way back in to the EU (or negotiate a way of not actually leaving) but to assume the rebate will exist forever is more than a little bit stupid.

[Lance]

On a balance sheet, the full amount would be considered as a liability. The rebate would appear in a different column. So in accounting-speak we are removing a £350m-ish liability per week. Technically what OG says isn't numerically wrong, but your accountant might well have a fit if you submitted your annual accounts in such a way. Cash-back on yourco's credit card, for example, has to be recorded in a different column from the invoiced amounts paid out.
I don't know how "discretionary" the rebate is, and I'm certain it will be the first thing we lose if we have to renegotiate a way back in to the EU (or negotiate a way of not actually leaving) but to assume the rebate will exist forever is more than a little bit stupid.

and you think you know about the EU? You don't even know the basics of UK membership.


The rebate is granted to the UK only. Negotiated by Thatcher when we were the "sick man of Europe"

We're the only fooking member with a discount to the membership. And it's huge.
Yes if we leave we lose. However if we revoke A50 we keep it and there's not a goddamn think the EU/EC can do about it.

[Old Greg]

On a balance sheet, the full amount would be considered as a liability. The rebate would appear in a different column. So in accounting-speak we are removing a £350m-ish liability per week. Technically what OG says isn't numerically wrong, but your accountant might well have a fit if you submitted your annual accounts in such a way. Cash-back on yourco's credit card, for example, has to be recorded in a different column from the invoiced amounts paid out.
I don't know how "discretionary" the rebate is, and I'm certain it will be the first thing we lose if we have to renegotiate a way back in to the EU (or negotiate a way of not actually leaving) but to assume the rebate will exist forever is more than a little bit stupid.

1. It certainly is not a liability on a balance sheet (see quotation from fullfacts below). How could it be? It is a reduction in the 'membership fee'.
2. The 350 million per week is never removed. Not in reality. Not in accounting terms.
3. Cash back is money which is returned after money has been paid. The rebate isn't like that. The rebate is never paid. The amount of money that is sent is approximately 250 million per week. See quotation from fullfacts below.
4 Your level of knowledge about the nature of the rebate is irrelevant - but see quotation from fullfacts below.
5 The UK does not have to negotiate a way of not actually leaving. It can withdraw Article 50 unilaterally. This is however irrelevant to the context in which the 350 million per week lie was originally published.
6 In what way is there '£350m is technically available to spend on the NHS'. 250 million per week is available. How is other 100 million available?
7 Project Lie - QED. Or am I missing something (and if so what)?

£350 million is roughly what we would send to the EU budget if it wasn’t for the UK’s budget rebate. The rebate is effectively a discount on what we would otherwise be liable for. This rebate was negotiated by Margaret Thatcher in 1984and the way it is calculated can’t be changed in future without the UK’s agreement.

The closest—not perfect—analogy is that £350 million is like the amount a supermarket till displays before the discounts are applied. You never pay it and you never owe it. The number is just one step towards the final bill.
The UK actually pays around £250 million a week. We also get some money back from the EU, but that isn’t fully under our control, as Mr Johnson points out.

[Mordac]

and you think you know about the EU? You don't even know the basics of UK membership.


The rebate is granted to the UK only. Negotiated by Thatcher when we were the "sick man of Europe"

We're the only fooking member with a discount to the membership. And it's huge.
Yes if we leave we lose. However if we revoke A50 we keep it and there's not a goddamn think the EU/EC can do about it.

You seem very certain about that. Are you absolutely certain about that?

[Old Greg]

You seem very certain about that. Are you absolutely certain about that?

Yes.

[Lance]

You seem very certain about that. Are you absolutely certain about that?

Yes