The UK has rejected Brussels’ demand for up to €6.75 billion to join the EU’s ‘SAFE’ defence fund, according to Bloomberg. The European Commission had asked Britain to cough up between €4 billion and €6.5 billion to join the fund, along with an ‘administration fee’ of up to €250 million. The EC claims the €150 billion fund is important to deterring Russian aggression, and allows states to borrow money to invest in defence projects whose primary manufacturing is in the UE, Ukraine, and EEA-EFTA. Bloomberg is reporting it’s the French who are taking the most hardline position on extracting the cash from Britain…
A government spokesman said today:
“We will only agree deals that provide value to the UK and UK industry… Nothing has been agreed, and we will not give a running commentary on ongoing talks.”
Negotiations are ‘ongoing’ to try to bring the figure down. Some EU countries are more sympathetic, though that’s clearly not a universal view. The French aren’t alone in wanting to drive a hard bargain. When even Starmer is balking at surrendering to Brussels, you know they’re having a laugh…
Lord Khan in the Telegraph: “I hope, and I say this in a non-pompous way, that the public service I do will bring rewards in this world and the hereafter,” he says. “I’m hoping the work I do is earning me Brownie points.”