Originally posted by Cirrus
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The UK rebate (or UK correction) is a financial mechanism that reduces the United Kingdom's contribution to the EU budget in effect since 1985. It is a complex calculation which equates to approximately 66% of the UK's net contribution – the amount paid by the UK into the EU budget less EU expenditure in the UK.[1][not in citation given] Based on a net contribution of €12.1 billion (£9.8 billion) in 2014, the UK Treasury estimates the 2015 rebate amounted to €6.2 billion (£4.9 billion), reducing the ultimate UK contribution for the 2015 budget to €16.6 billion (£12.9 billion).
Were the EU to accept the UK back, I think the rebate would go.
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