The sum, however, does not represent an annual fee, but rather the cumulative impact across a five-year period.
Analysis of data from the Office of National Statistics (ONS), HMRC and the Department of Business and Trade (DBT) by Facts4EU, which has been shared exclusively with GB News, has also suggested the deal may not have the impact Mr Burnham is hoping for.
According to figures from the DBT, there are approximately 5,684,045 British businesses of all sizes in 2026.
From this figure, a mere 25,608 (0.45 per cent) of firms export goods exclusively to the EU, becoming 108,136 (1.9 per cent) when including companies exporting to the bloc and also to non-member states. This counts smaller unregistered businesses assigned with an EORI (Economic Operators Registration and Identification) number.
Meanwhile, just 126,029 (2.2 per cent) of UK businesses export any goods overseas.