Ireland’s annual contribution to the EU budget will rise to more than €3 billion over the next two years, according to research.
A report by the Comptroller and Auditor General (C&AG) said that the state’s EU contributions had risen significantly in recent years and were likely to continue to do so.
Ireland had been a net beneficiary of the EU but now gives more than it gets back, in line with its relative economic prosperity.
The report said: “Financially, Ireland was a net beneficiary of the EU until 2014. Since then Ireland has received marginally less than it has contributed. Ireland’s contribution to the EU budget in 2017 was €2 billion. Financial projections suggest that the contribution will increase significantly in future years.”
The analysis highlights commentary from the Department of Finance that Ireland’s EU budget contribution forecasts are volatile because of the number of factors involved, including the rate of economic growth.