UK ready to pay up to €40 billion for brexit

Published: 09:11 GMT, Aug 6, 2017 |

Britain is prepared to pay up to €40 billion ($59 billion) as part of a deal to leave the European Union, according to reports.

Senior government officials have concluded that such an offer – the first time a precise figure has been proposed – is the only way to break the deadlock in Brexit negotiations.

However, the UK will only agree to pay the £36 billions if the EU negotiates the financial settlement as part of a deal on future relations, including a trade deal.

The deal was first reported by London’s Sunday Telegraph newspaper, citing three unnamed sources familiar with Britain’s negotiating strategy.

The European Union has floated a higher figure of €60 billion and wants significant progress on settling Britain’s liabilities before talks can start on complex issues such as future trading arrangements.

The government department responsible for Brexit talks declined to comment on the revelations. So far, Britain has given no official indication of how much it would be willing to pay.