The chaos surrounding Theresa May’s miserable Brexit deal has sent the divorce bill rocketing by £768 million.
The draft withdrawal treaty states that the divorce bill is fixed and paid in Euros and the Pound has fallen from 1.1491 Euros to the Pound on 14 November to 1.1269 Euros to the Pound at 09.30 this morning – adding £768 million to the Government’s own estimate of a £39 billion bill.
Article 133 of the draft Withdrawal Treaty states that all of the UK’s liabilities will be fixed in Euros:
Without prejudice to the applicable Union law concerning the Union's own resources, all amounts, liabilities, calculations, accounts and payments referred to in this Part shall be drawn up and implemented in euro.
Since Wednesday night, and the publication of the details of the draft treaty, triggering a round of resignations and confusion in the Government and the Conservative Party, the pound has fallen by over 2 cents against the Euro, meaning that even using the Government’s highly optimistic £39 billion valuation for the divorce bill, the cost has risen by £768 million.
Commenting, Jo Stevens MP, leading supporter of the People’s Vote campaign, said:
“This botched deal is costing us more and more, even as we lose our say over our future.
“Nobody voted for the pound to take a battering, nobody voted for an ever-rising divorce bill, to be poorer, for chaos in Government or for the loss of a say over our country's future.
“There is one way out of this mess and that is a People's Vote where we can choose between our current deal as members of the EU and the miserable deal being offered by Theresa May."