The UK funding share would fluctuate in Horizon Europe, based on performance. If the UK's performance over 2014-20 in Horizon 2020 was evaluated and applied to the Horizon Europe programme in terms of the announced budget and the terms of the Trade and Cooperation Agreement (TCA), a net contribution of up to £3bn would be expected, based on average performance. This is relative to the £14.6bn that the full application of the TCA would have committed the UK to contribute, assuming prompt association from 2021.