EU demands around £1 billion annually from Britain for market access – media
Kyiv • UNN
The European Union has set an annual contribution of £1 billion for Britain in exchange for expanded market access. Keir Starmer will discuss the terms at the upcoming summit.
The European Union has set a condition for the United Kingdom to make annual payments of approximately £1 billion for expanded access to the single market. This was reported by The Times, according to UNN.
Details
According to the publication, this could mark London's first regular financial contribution to EU budgets since leaving the bloc. Prime Minister Keir Starmer is expected to discuss the details during the European Political Community summit in Armenia.
"If the UK wants more integration, it has to pay for participation. This is not unusual,"
Terms and Calculations
The amount is determined by analogy with Switzerland, which agreed to pay €375 million per year for access to the EU market. Given the larger scale of the British economy, the contribution for London is estimated at approximately £1 billion annually.
London seeks to achieve mutual recognition of standards in key sectors—chemical, pharmaceutical, and automotive—to reduce costs for exporters.
Political Reaction
The initiative has drawn criticism from the opposition. Representatives of the Conservative Party stated that such payments mean transferring British taxpayers' money to European institutions.
At the same time, some political forces in the country advocate for deepening cooperation with the EU, including the possibility of returning to the bloc in the future.
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