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UK'S Brexit bill could reach up to €100 billion

Staff Writer |
The European Union has hiked its opening demand for the UK's Brexit bill to an upfront gross payment of up to €100 billion, the Financial Times reported, citing its analysis of new stricter demands driven by France and Germany.

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According to the newspaper report, after direct requests from several member states, EU negotiators have revised their initial calculations to maximise the liabilities the UK is asked to cover, including post-Brexit farm payments and EU administration fees in 2019 and 2020.

This suggests a bill significantly increased from the estimated EUR60 billion charge that had been mentioned by European Commission President Jean-Claude Juncker.

The FT noted that estimates of Britain's Brexit bill are "highly variable" as they include assumptions of Britain's exit date, its share of contributions, the type of liabilities it is expected to honour, and UK receipts such as its budget rebate or EU investment spending.

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