The Institute For Fiscal Studies has said today that we do give a 'gross' figure of £350 million pounds a week to the EU but we will not get it back when we leave at the Brexit vote because of the rebate negotiated by Margret Thatcher.
That statement is misleading.
When we leave the EU we will no longer hand over £350 million pounds a week to the EU, that is a fact, I realise that we will not get a rebate and we will not get subsidies, but we will still not hand over £350 million pounds a week to the EU.
Why has the IFS said this today?
One reason is that over 10% of it's income comes directly from the EU and will probably be affected when we leave, Paul Johnson director of the IFS for the past five years admitted this morning.
While the IFS might be politically independent it certainly knows how to protect it's income.
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