UK to cap Brexit fee at 40 billion euros

Peace and Freedom

London will agree to pay up to 40 billion euros to quit the EU, not a cent more, according to a report. It’s much less than the EU wants.

Belgien - Brexit-Verhandlungen mit Barnier und Davis in Brüssel (Reuters/F. Lenoir)

British officials are likely to offer to pay 10 billion euros per year for three years after leaving the EU in March 2019 and finalize the total amount during detailed subsequent trade talks, with the total over the period not exceeding 40 billion euros, the Sunday Telegraph reported.

The EU has talked of a figure of 60 billion euros, while French economy minister Bruno Le Maire said in July that the UK owes the EU 100 billion euros, including commitments to EU programs, such as cohesion funds for new infrastructure in Eastern Europe and refugee programs in Turkey and Libya.

London argues that as a net contributor over four decades it has a right to tens of billions of pounds of EU assets…

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