Divorce bill ‘should be £26bn’

THE UK’S “divorce bill” on leaving the European Union should be no more than £26bn (30 billion euro), a think-tank has calculated.

European Commission president Jean-Claude Juncker has said the Brexit financial settlement could see the UK billed for about £50 billion, while unconfirmed reports have suggested EU officials believe the total could reach as much as £100 billion.

The sums cover commitments to EU budgets made during the UK’s membership, along with other financial liabilities. But the Institute for Economic Affairs has said that the “upper limit” for any payment should be £21 billion for budget commitments, along with around £5 billion for pensions and one-off items.