Brussels Will Be Left With EUR 12 Billion Taken Away After Brexit

Forex News
Guenther Oettinger (EU Budget Commissioner) claimed that in order to handle the gap that will be left after Brexit, the EU will be obliged to reduce spending in most of the sectors. Budget Commissioner said: "Brexit will lead to a smaller budget. That is why we have to reduce spending moderately but notably at almost all our programs". Britain is the net contributor and when it exits from the European Union, Brussels will lose around 12 billion euros of an annual budget.