Published:November 19, 2017 7:40 pm
Britain will submit proposals on how you can settle its divorce invoice with the European Union earlier than an EU summit subsequent month and is predicted to barter arduous, finance minister Philip Hammond mentioned on Sunday.
The EU instructed Prime Minister Theresa May on Friday that there was extra work to be performed to unlock the Brexit talks, repeating its early December deadline for her to flesh out Britain’s opening supply on the monetary settlement. “We will make our proposals to the European Union in time for the Council,” Hammond instructed the BBC, referring to the Dec. 14-15 assembly of EU heads of presidency.
He was talking three days earlier than he units out Britain’s finances plan, the place he must discover room inside tight fiscal constraints to assist May persuade voters that the Conservative authorities is tackling Britain’s home issues similtaneously negotiating its exit from the EU.
Last week, May met fellow EU leaders to attempt to break a impasse over how a lot Britain can pay on leaving the bloc, a difficulty threatening to derail British hopes for a negotiated exit and an settlement on a brand new buying and selling relationship by March 2019.
May has signalled she would enhance an preliminary supply that’s estimated at some 20 billion euros ($24 billion) – a couple of third of what Brussels desires. But Hammond, who has been criticised by supporters of Brexit for being too conciliatory in the direction of Brussels and lobbying for a “softer” exit, mentioned Britain would take a tricky stance about how a lot it owes.
“There are some things that we’re very clear we do owe under the treaties, other things where we dispute the amounts or even whether something should be included,” Hammond mentioned in a separate interview with ITV tv. “Of course we’ll negotiate hard to get the very best deal for the British taxpayer.”
Asked in regards to the prospect of Brexit and not using a commerce deal, Hammond mentioned he was “increasingly confident” that an settlement might be reached as a result of it was within the pursuits of each events.
Despite scepticism in Brussels over the tight timetable, May and her chief negotiator David Davis have been clear they wish to have a full post-Brexit free commerce deal sealed by the point Britain leaves. However, Hammond set out a softer stance on the timing of the commerce deal. “We hope that it will be agreed, certainly in principle, that the big elements of it will be agreed before March 2019 so that everybody knows where we are going,” he instructed ITV.