Brexit’s financial implications should be highlighted – Alfred Sant

Maltese MEP Alfred Sant has called on the EU institutions involved in the UK’s Brexit negotiations to be as clear as possible on the challenges and problems Brexit negotiators will be tackling.

It is therefore very important to start discussing the internal arrangements before the Brexit negotiations have been finalised, Dr Sant said.

In particular, it is especially relevant with regard to the financial implications for the EU. Dr Sant was speaking at the Plenary session of the European Parliament during which the representative of the EU Presidency in the European Council presented the main topics to be discussed at the European Council that is to take place on 20-21 October, notably migration, trade and the EU’s relations with Russia. The majority of MEPs addressing the meeting also emphasised that Brexit is a key topic that should be addressed by the EU heads of state and government.

Dr Sant said that it was accepted that the EU should not, either on its own or through informal contacts with the UK, start to review options for the Brexit negotiations before these actually commence. However, the same need not apply to the EU’s internal arrangements, once Brexit has been implemented. This is especially relevant with regard to the financial implications for the Union without the UK.

Dr Sant said that media houses and research bureaux have made their calculations. “The Union’s income will suffer a sizeable shortfall with the disappearance of the UK’s net contribution. What will be the implications of this, for ongoing and future EU projects? What will be the dimensions of the shortfall, seen from both a purely accounting perspective and from an operational one? How can this deficit be countered?” he asked.

“These questions in no way prejudice the conduct of future Brexit negotiations. They relate to the available options for internal reorganisation of the EU post Brexit. Misinformation about this may be contributing to ongoing uncertainties as much as the wait for Brexit negotiations to start. Deep background provided publicly as of now by the Commission and/or Council about the scale of the challenges and problems in this regard would help dampen such uncertainties,” Dr Sant said.