Joint statement of the Financial Provisions Specialised Committee - 18 October 2022
Coordinated statement from the European Commission and the UK outlining discussions at the most recent Specialised Committee on Financial Provisions
The sixth meeting of the Specialised Committee on Financial Provisions (SCFP) was held today, 18 October 2022. The meeting was co-chaired by officials from the UK Government and the European Commission. This Committee is assigned by the Withdrawal Agreement Joint Committee to undertake work related to the implementation of the financial provisions in Part V of the Withdrawal Agreement.
The UK and the EU exchanged updates on the tasks carried out under the remit of this Specialised Committee. Both parties noted the positive engagement on the annual reporting package required by the Withdrawal Agreement and the associated invoices. The fourth invoice was provided by the European Commission in September. The payment of these amounts will be made in eight monthly instalments, with the first due date set on 31 October 2022, in accordance with the terms of the Withdrawal Agreement. The European Commission will continue submitting these payment communications to the UK twice annually, in April and September, until outstanding net liabilities are extinguished.
The UK and EU sides reaffirmed their commitment to complying with their legal obligations under the Withdrawal Agreement.
The two sides appreciated the ongoing good cooperation in this field, and committed to continue working collaboratively on a range of implementation issues, in recognition of the mutual benefit of a smooth implementation of the financial provisions of the Withdrawal Agreement.