The UK is the eighth largest net contributor to the EU, meaning we pay more into Europe than we receive – to the tune of  €7.1bn.

The Netherlands, Sweden, Germany, Denmark, Finland, Austria and France have an even larger net contribution than the UK, but many more countries are reaping the financial rewards of EU membership (see above: who pays the most per person?)

Winners and losers

According to data from the European Commission, The Netherlands is the largest net contributor to the EU, paying in €8.3bn a year but receiving only €2bn back.

At the other end of the scale, Luxembourg receives substantially more than it pays into the EU. But the figures also take into account the €1.4m the EU spends on administration in the country, which is home to the administrative offices of the European Parliament.

Hungary, Lithuania, Greece and Malta all receive much more money from the EU than they pay in themselves.

What Vote Leave say

Leave campaigners argue Britain should leave the EU to “spend our money on our priorities”.

They claim the UK will save at least £350m a week by not paying into the EU, money they say would be better spent on the NHS:

“The EU costs us over £350m a week, enough to build a brand new, fully-staffed NHS hospital every week. This is almost £20bn a year, half the entire English schools budget, or four times the annual Scottish schools budget and four times the science budget.”

What Stronger In say

The Remain camp say the British economy will be stronger by staying in the EU, claiming the UK receives £24bn of investment every year from Europe.

They say the UK’s net contribution is worthwhile given the amount of money that is generated thanks to Britain’s partnership with the EU:

 “Our annual contribution is equivalent to £340 for each household and yet the CBI (Confederation of British Industry) says that all the trade, investment, jobs and lower prices that come from our economic partnership with Europe is worth £3000 per year to every household.”