UK and EU 'agree Brexit divorce bill which could reach almost £50bn', report claims

Theresa May greeting Jean Claude Juncker earlier this year.
PA
Francesca Gillett28 November 2017
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The UK and EU have reached a deal on the final Brexit divorce bill deal which could tot up to nearly £50 billion, it has been reported.

According to two news outlets, sources from both London and Brussels suggested there had been a breakthrough in talks and an agreement on the financial settlement had been reached.

It raises hopes of progress ahead of next month's crunch summit.

On Tuesday evening the Telegraph reported that a deal had been reached and the final figure is expected to be between €45 billion and €55 billion - or between £40 billion and £49 billion.

According to the Guardian, the divorce bill agreement could see the UK coughing up as much as £57 billion.

The Financial Times said that "several diplomats familiar with the talks" had confirmed that the UK will assume EU liabilities worth up to €100 billion (£89 billion) gross, but that net payments would amount to around half that figure.

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But a government official said it “does not recognise” this account of a reported bill settlement and stressed that intense talks are continuing in Brussels this week as an agreement is sought.

A spokesman for the EU's chief Brexit negotiator Michel Barnier also declined to comment.

Negotiators have been working towards an early December deadline of agreeing a divorce settlement figure.

Once that is agreed at a meeting with European Commission president Jean-Claude Juncker on December 4, talks can move onto discussions of a post-Brexit trade deal.

Theresa May is set to meet Mr Juncker and Mr Barnier in Brussels on Monday.

The PM and EU diplomats need to also agree key issues including the Northern Irish border and citizens’ rights before the December 14 and 15 European Council summit in order to be able to move onto the next phase of negotiations.

The problem of the Irish border has emerged in recent weeks as a major difficulty in securing sufficient progress and the two sides in the Brexit negotiations are still at odds over the role of the European Court of Justice in enforcing citizens' rights after Brexit.

Earlier today, former Cabinet minister Priti Patel said Brussels should be told to “sod off” over its financial demands for Brexit.

Meanwhile it emerged the UK could be required to follow new rules implemented by the EU during a Brexit transition period.

The position set out by Michel Barnier in leaked documents would make the application of new EU rules a condition of a transitional deal, meaning Britain could be subject to further Brussels' regulations for about two years after leaving the bloc.

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