Magazine article Public Finance

UK Could Claim EU Assets, Says CIPFA Chief

Magazine article Public Finance

UK Could Claim EU Assets, Says CIPFA Chief

Article excerpt

Th e UK may continue to contribute to the EU budget even after Brexit, the government's white paper has confi rmed.

In a document published on 2 February, minsters set out 12 priorities for the negotiations to leave, which will begin once prime minister Th eresa May formally triggers the article 50 exit process by the end of March.

The 12 principles include taking back control of laws, so the European Court of Justice will no longer have jurisdiction in the UK, controlling immigration and ensuring free trade with European markets, as well as securing new trade agreements with other countries.

In his preface to the document, which was published before the government's bill to trigger the article 50 exit process from the bloc was passed by MPs, Brexit secretary David Davis said the referendum result did not mean the UK would turn its back on Europe.

"Rather, it was a vote of confi dence in the UK's ability to succeed in the world - an expression of optimism that our best days are still to come," he said. "Th is document sets out our plan for the strong new partnership we want to build with the EU."

On the budget contribution, the paper said the UK was likely to continue to make payments to the bloc to continue cooperation in some areas. …

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