A couple of days ago the former Conservative leader Ian Duncan Smith claimed that the UK could be liable for £160billion debt over unpaid loans from the EU.
Ian said: The EU “want our money, and they want to stop us being a competitor”, adding: “The Withdrawal Agreement we signed last year sadly helps them.”
After what Ian said, the EU Commission responded through their spokesperson saying: “I think it’s very clear that we are not going to get into a debate with British politicians on liabilities or any other of the provisions of the Withdrawal Agreement.
“The Withdrawal Agreement is there, it is now a firm document that has been accepted by both parties, and it is the basis on which both sides are acting.
“In this document, it is clear the United Kingdom has taken a number of completely normal legal commitments when it comes to its share of liabilities relating to loans that have been given by the European Investment Bank while the UK was still a member of the European Union.”
According to Ian Duncan Smith, the deal that Boris and Barnier signed currently leaves the UK paying £39 Billion, with Britain also liable for defaults on loans made through the European Investment Bank and European Financial Stability Mechanism.