Brexit will have ‘significant’ effects on EU budget

Ireland’s man at the EU court of auditors has said Brexit will have “significant” effects on the EU budget.

“Brexit will naturally have significant implications for the revenues of the European Union, and its assets and liabilities,” said Kevin Cardiff, Ireland’s member of the Court of Auditors.

“The implications for individual member states’ contributions have simply not been addressed yet,” said Mr Cardiff, who was secretary general of the Department of Finance, when Ireland went into its EU-IMF bailout programme, in 2010.