EU to demand Brexit bill in the event of no deal

[Whorty]

They'll all get 'sent back' post brexit anyway

So long as 'back' isn't south of the river

[meridian]

Do you mean the budget cycle which ends next year? We have some small commitments beyond that, but nothing like £39b. Most of that was "goodwill" based, and it does depend somewhat on getting some actual "goodwill" in return.

What does that even mean?

Have you ever spoken to an accountant, and have you ever known them to do anything on a “goodwill” basis?

[Mordac]

What does that even mean?

Have you ever spoken to an accountant, and have you ever known them to do anything on a “goodwill” basis?

In this case it's a bung* to persuade the EU to give us a favourable exit and ongoing relationship. It clearly hasn't worked. It's Danegeld all over again (you'll have to look that up for yourself, try Kipling for starters).


*In the likely event that you haven't got a clue about "goodwill" in a business transaction sense, I thought you'd be more familiar with "bung".

[meridian]

In this case it's a bung* to persuade the EU to give us a favourable exit and ongoing relationship. It clearly hasn't worked. It's Danegeld all over again (you'll have to look that up for yourself, try Kipling for starters).


*In the likely event that you haven't got a clue about "goodwill" in a business transaction sense, I thought you'd be more familiar with "bung".

Funnily enough, I do happen to know about "goodwill" in a business sense. It's an asset in the accounts, booked and verifiable.

Tell me again about this "goodwill" that you speak of. Is it booked and verifiable, or just a fiction of your imagination? Any evidence that there is any part of the payment designed to persuade the EU to give us a favourable exit?

[chopper]

Do you mean the budget cycle which ends next year? We have some small commitments beyond that, but nothing like £39b. Most of that was "goodwill" based, and it does depend somewhat on getting some actual "goodwill" in return.

The £39bn (actually, €42bn - it is denominated in Euros) is for:

• contribute to and participate in the 2019 and 2020 EU budgets, as part of the transition (or implementation) period;
• continue to receive EU funding from EU programmes that are part of the 2014 – 2020 budget plan;
• contribute towards the EU’s outstanding budget commitments at 31 December 2020 (these are budget commitments that have been made, but not yet paid);
• contribute towards some of the EU’s liabilities – obligations to pay for certain items – incurred before 31 December 2020. EU staff pensions are the main source of such liabilities;
• remain liable for the EU’s contingent liabilities – potential liabilities that may occur depending on the outcome of an uncertain event – which relate mainly to financial guarantees given and to legal risks;
• receive back the €3.5 billion of capital it has paid into the European Investment Bank in 12 instalments from 2019, and will receive back the relatively small amount of capital it paid into the ECB on withdrawal;
• remain liable for EIB liabilities approved before the WA comes into force, and will provide a guarantee to the EIB for its stock of outstanding loans which will decrease as EIB loans associated with it decrease;
• continue to participate in some of EU’s overseas programmes, such as the European Development Fund, until the current round ends.

It isn't an upfront payment, and "the UK should neither pay more nor earlier than if it had remained a Member State. "


It's all in here
Brexit: the exit bill - Commons Library briefing - UK Parliament

[shaunbhoy]

Any evidence that there is any part of the payment designed to persuade the EU to give us a favourable exit?

If there is then at least one of Juncker's minions hasn't been doing his job properly.

[Whorty]

In this case it's a bung* to persuade the EU to give us a favourable exit and ongoing relationship. It clearly hasn't worked. It's Danegeld all over again (you'll have to look that up for yourself, try Kipling for starters).


*In the likely event that you haven't got a clue about "goodwill" in a business transaction sense, I thought you'd be more familiar with "bung".

The mere fact you equate bung and goodwill tells me you don't understand what you're saying.

[shaunbhoy]

The mere fact you equate bung and goodwill tells me I don't understand what I'm saying.

ftfy

[Whorty]

ftfy

You see, can't help stalking me can you?

And by the way, as a qualified accountant, I do actually understand what Goodwill is on the balance sheet. But I wouldn't expect you to let facts get in the way of your normal tripe

How you feeling now Brexit is going t1ts up

[shaunbhoy]

a qualified accountant,

Well that neatly explains your weapons-grade dullness.

Fook me, could you BE more dreary?