The UK has given in to EU demands and has agreed to fully honour the Brexit bill – and it could be as much as £50billion.
The bill has long been a sticking point in divorce talks between Britain and the EU, proving to be one of the largest obstacles to an agreed settlement.
According to senior EU officials who spoke to The Guardian, the UK could be faced with a bill of around £53billion to £58billion.
However, British officials will be keen to get the amount down as much as possible.
‘We have heard the UK wants to come along with the money,’ the official reportedly said. ‘We have understood it covers the liabilities and what we consider the real commitments. But we have to see the fine print.’
Theresa May is expected to formally present the offer next week as part of a package deal, provided an agreement can be reached on Northern Ireland and citizens’ rights.
Last week, the PM finally got the go-ahead from key Cabinet ministers to increase the amount of money the UK is willing to pay.
According to the FT, both sides have agreed that the settlement won’t be paid out as a lump sum, but as regularly calculated amounts made at intervals for years to come.