Lord Inglewood – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Inglewood on 2016-10-10.

To ask Her Majesty’s Government what assessment they have made of the annual tax revenues derived from business activities dependent upon membership of the European Single Market; and what is the UK’s annual net contribution to the EU budget.

Lord Young of Cookham

As noted in the previous written answer in question (HL131), there have been no new estimates made for the impact on tax revenue since the EU referendum.

Details of UK net contributions to the EU Budget over the period 2011-12 to 2015-16 can be found in Table C1, page 194, of the 2016 Public Expenditure Statistical Analyses (Cm 9322) which was published in July. This is available in the House library.

This table also includes the Office for Budget Responsibility’s March forecast of UK net contributions to the EU Budget for the period 2016-17 to 2019-20.