Wednesday, 29 November 2017

Brexit divorce bill could be up to 50bn euros



The UK could end up paying an EU divorce bill of up to £50bn, prompting the threat of a Brexit backlash against Theresa May.
 
Officials close to the talks were reported as saying there was a broad agreement on a framework for the UK to settle liabilities expected to total about €45-55bn (£40-49bn).


Euro notes


The pound was up nearly a cent against the dollar to more than $1.34 on Wednesday on hopes that a divorce settlement with the EU was close.


But the reported deal was described by former UKIP leader Nigel Farage as a "sellout".


He said: "I have always argued that no deal is better than a bad deal. Make no mistake about it, €55bn to leave the EU is a very, very bad deal."


Other reports had put the figure at up to €100bn (£89bn), although the Financial Times reported that the actual payment may only be around half that, with Britain pushing for a figure of between €40-45bn (£35-40bn).


The bill includes funding for projects Britain signed up to as an EU member, loans which have yet to be repaid and pensions for European Commission civil servants.


A recent poll said just 11% of voters would see a bill of £30bn or more as acceptable.




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