Sant urges clarity from EU over financial implications of Brexit

Labour MEP Alfred Sant has urged the EU institutions that are involved in the Brexit negotiations to be as clear as possible to European citizens on the financial problems that they will be tackling.

Addressing a European Parliament plenary session, the former Prime Minister warned that the EU’s income will suffer a sizeable shortfall with the disappearance of the UK’s net contribution to the annual budget.

“What will the implications of this be, for ongoing and future EU projects? What will be the dimensions of the shortfall, seen from 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 reorganization 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 European Commission or Council about the scale of the challenges and problems in this regard would help dampen such uncertainties.”

Sant made his intervention at the Plenary 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 upcoming European Council to take place between 20-21 October notably, migration, trade and EU relations with Russia.

The majority of MEPs addressing the meeting also emphasised that Brexit is also a key topic which should be addressed by the EU Heads of State and Government.