Eastern countries WILL PAY more to EU for £11.5billion Brexit shortfall

Ministers from Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania, Slovenia and Slovakia said they would raise their EU contribution to 1.1 per cent of their Gross National Income (GNI) from one per cent at a meeting on Friday. 

This will mean that after the rise, the EU will receive £11.5 million more. 

In January, president of the European Commission, Jean-Claude Juncker called on the 27 member states to pay more money into the bloc’s log term budget to make up in the huge gap in the finances. 

Mr Juncker said the EU’s next budget from 2020 onwards should be more than one percent of the continent’s GDP.

After the meeting on Friday, Hungarian Prime Minister, János Lázár, said: “On a Friday morning in gloomy, rainy and cloudy weather, it’s probably not one of the best experiences you can get here in Budapest, still I can say it was worthwhile to meet.

“The eight countries agreed with the increasing of the GNI proportionate payment, which is a major success of the day, because eight countries opened the opportunity that the payments should increase even up to 1.1 per cent.”

The UK’s contribution to the EU in 2016 was £14billion out of a budget of £126billion. 

In 2007, the five wealthiest EU countries, Germany, France, Italy, the UK, and Spain contributed nearly half of the total budget and so when the UK leaves the bloc there will be a significant dent.

Speaking about the impact of Brexit, Mr Lazar said: “There are going to be less revenues plus more tasks.

“We are encouraging the Commission to have an ambitious budget.

“I am extremely grateful for the eight member states that they were willing to contribute a bit more”. 

Mr Lazar also said that there is no “insurmountable difference between Hungary’s goals and the European Union’s budget plans.

He said: “Europe still needs a cohesion policy that balances out the developmental differences between member states.”

Budget commissioner Guenther Oettinger said that cash is needed to deal with migration, funding the EU’s borders and financing development of the countries where migrants arrive from. 

In January, Mr Juncker said: “Britain will be leaving us so we need to find a means of reacting to the loss of a significant number of billions in euros.

“It will be difficult for the budget coffers of Europe when a net contributor leaves.”