The UK will be taking money from the budget, the EU is warning - at the same time that the bloc will have new outgoings.

1. Brexit 'will blow hole in budget', EU commissioner warns
Image copyrightEPAImage captionThe UK will be taking money
from the budget, the EU is warning - at the same time that the
bloc will have new outgoings (expenses, costs).
The UK's departure from the EU will leave a budget shortfall
(deficit) of at least €10bn (£8.8bn; $11.4bn), the budget
commissioner has warned.
Günther Oettinger said the bloc must either spend less or find new
money to fill the gap, equivalent to an estimated 16% of the entire
budget.

2. Among the options on the table could be less generous payments to
farmers or a tax on financial transactions.
"A big country, a net contributor is leaving," Mr Oettinger said.
"That must have consequences."
Mr Oettinger said each euro spent must have a positive impact on
people's lives, as he presented a discussion paper on the EU's
future.
Negotiations are under way (coming) for the UK to leave the EU
by the end of March 2019, following last year's referendum vote.
 Brexit: All you need to know
 Article 50: The people who will negotiate Brexit
 Brexit: What are the options?
It is not just Brexit giving the EU a budget headache.
"At the same time we need to finance new tasks such as defence,
internal security...," Mr Oettinger writes, with regional policy
commissioner Corina Cretu, in an EU blog.
"The total gap could therefore be up to twice as much."
The BBC's Europe reporter, Adam Fleming, says the disappearance
of Britain's annual rebate (tax refund) will make the budget
process simpler.
The rebate, negotiated under former Prime Minister Margaret
Thatcher, is a complex calculation which sees a sizeable proportion
of the UK's net contribution to the EU each year returned.
Officials will now consult member states and the European
Parliament, our reporter says,

3. They hope the "Brexit effect" will be clearer by the end of the
year and a draft (outlined) budget for the years 2020 and beyond
will be proposed by the middle of next year.