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Boris Johnson REFUSES to cough up £270million of UK taxpayer cash for EU coronavirus fund

But, because the cash will come out of this year’s budget the EU stipulates that the UK must pay its share of the costs.

The plan by the European Commission, the executive arm of the EU, will provide loans and grants to the sectors of the bloc severely impacted by the coronavirus.

One of the worst-hit nations was Italy.

Having EU common debt has been described by the bloc as “historic” and a “big step forward”.

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