BREXIT SAVES US BILLIONS IN EU FEES AND MEMBERSHIP COSTS
Summary:
As an EU member state, 75% of all customs revenue (it was 80% when UK was a member) goes to the budget of the EU. Now outside of the EU, the UK HMRC gets 100% of that revenue to spend on public services, currently around £2-3bn extra a year.
Explanation:
The EU has multiple methods by which it raises funds to pay for itself and the salaries of the 60,000 people that the EU institutions employ. One of those methods is through the revenue taken at its external border through import tariffs, of which the EU takes a majority share.
At the time of the vote to leave the EU, 80% of import tariffs collected at the UK border were paid directly to the EU. The EU has since been reduced this to 75% in its most recent EU budgetary period.
Now outside the EU, the UK retains 100% of border tariffs collected, which in 2022 was around £3 Billion (around 0.1% of GDP in 2022). This means that, in 2022, the UK retained an extra £2.25 Billion to spend on the priorities of the UK taxpayer, that it would have otherwise had to pay to the EU for it to decide what to spend it on.
Reference:https://www.statista.com/statistics/284363/customs-duty-united-kingdom-hmrc-tax-receipts/