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Chairman of Capital Economics, Roger Bootle, has said that Germany alone will not be enough to fund the European Union.

German taxpayers pay record sums into the EU and are set to pay more than any other member state after Brexit to make up the short fall.

In 2015, Germany paid an unprecedented total of 13.3billion to remain a part of the union.

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Within the eurozone, if its leaders press on to fiscal union, Germany will be asked to become the magic money tree in relation to most of the rest of the union

Roger Bootle

Writing for The Telegraph, he said: Over the last few weeks of election campaigning, we have seen how democratic politics naturally produces an escalation of demands on the the public purse as politicians, and voters, seem to believe in the magic money tree that will produce the goodies that they want.

Within the eurozone, if its leaders press on to fiscal union, Germany will be asked to become the magic money tree in relation to most of the rest of the union.

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Jeremy Corbyn during a visit to Hackney Marshes Football Pitches, to highlight Labour's manifesto commitment to ensure 5% of the Premier League's television rights income is diverted to the grassroots game, during a General Election campaign

Mr Bootle said that the role of permanent provider for the European Union is not one that Germany is going to take on lightly.

The economist said that the EU payments are grudgingly accepted by the German taxpayer, but still resented.

The German Finance Minister, Wolfgang Schaeuble, has also said that it is important to have a strong France as Germany alone is not able to hold Europe together.

Some member states have already made it clear that they are not willing to pay more into the EU budget to make up for the UKs departure.

The UK has acted as one of the main contributors to the EU budget; in 2014 it was the fourth largest national contributor to the budget after Germany, France and Italy.

German commissioner, Gunther Oettinger, has said that Germany as well as other net contributors will have to increase the amount of money that they pay into the bloc.

Mr Bootle has labelled Brexit as the UKs Great Excape claiming the European Union and its single market is a disaster.

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Germany faces future of being the European Union's 'magic money ... - Express.co.uk