If things don’t go to plan tomorrow with the UK government vote on the Brexit deal, then a no-deal Brexit (hard Brexit) will cost the Dutch government 2.3 billion euros (NOS). These statistics have come from the Court of Audit. And that’s not the only money that will be lost…
Why will Brexit cost the Netherlands so much money?
Well, this extra money will be due to customs and other inspections that will need to take place, as the UK will not be part of the customs union. This is expected to cost a further 700 million euros for security, staff and customs inspections. A no deal means that not only will the Dutch and other EU countries have to spend more, but it will cost the UK billions too.
However, that’s not all the money that will be lost. 1.6 billion euros will go to the EU as an additional payment as the UK has left. In 2026, this will increase to 2.5 – 3 million.
If a deal is accepted, then the Netherlands will be fine until the transition period is over in 2020. This gives everyone plenty of time to prepare.
Many countries, including the Netherlands are already preparing for a no deal Brexit, as with only 3 months to go, no actual deal has officially been confirmed yet. Businesses need to prepare in advance in order to try and curb any inevitable delays.
In typical DutchReview terms: What a f**king mess.
What do you think about Brexit and how it will affect the Netherlands? Or any other Brexit rants you need to get off your chest? Let us know in the comments!