Impact of Brexit on Dutch finances
The exact impact of Brexit on Dutch finance is not clear yet. This will depend on the negotiations between the European Union (EU) and the United Kingdom (UK) about their future partnership. These negotiations run until 31 December 2020.
Less trade and more checks on goods
The exact impact will depend on the negotiations between the UK and the EU about their future partnership.
Brexit may affect Dutch public finances in 2 ways:
- If Brexit results in less trade with the UK, less tax will be collected.
- Agencies that carry out government policy, like Customs and the Netherlands Food and Consumer Product Safety Authority (NVWA), will face higher costs. They will need more staff, because they will have to carry out more checks on goods entering the country after Brexit.
The exact impact on Dutch public finances will depend on:
- the negotiations between the EU and the UK during the transition period, which runs until 31 December 2020;