As a member, Britain pays €8.5 billion annually to the EU budget, which will cease after 2019 with Brexit. This will surely leave a large hole in the EU purse and, thus, certain projects and initiatives would have to be curtailed, including aid to poorer members. To bridge the gap, the remaining 27 member states would have to make some sacrifices and reduce expenses.

The European Parliament has 751 members from its 28 member states (67 from the UK) who each receive €6,611 net monthly (after deduction of EU tax and insurance contribution) plus travelling and other expenses, which run into thousands.

The European Parliament costs €1.8 billion annually to run and, probably, this is an area which the EU has to look into to make some savings by reducing drastically the number of MEPs and review their salaries and effectively control their expenses.