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Money Theresa May ready to increase £20bn Brexit divorce offer

23:32  11 november  2017
23:32  11 november  2017 Source:   ft.com

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Theresa May is ready to increase Britain’s offer to the EU over the Brexit divorce bill, after signs that the hard Eurosceptics in her party will tolerate paying more money to break the deadlock in negotiations.

The cabinet is reported to be in agreement on the Prime Minister's plans.

Theresa May posing for the camera: Britain's Prime Minister Theresa May addresses delegates at the annual Confederation of British Industry (CBI) conference in east London, on November 6, 2017. / AFP PHOTO / Daniel LEAL-OLIVASDANIEL LEAL-OLIVAS/AFP/Getty Images © AFP Britain's Prime Minister Theresa May addresses delegates at the annual Confederation of British Industry (CBI) conference in east London, on November 6, 2017. / AFP PHOTO / Daniel LEAL-OLIVASDANIEL LEAL-OLIVAS/AFP/Getty Images Theresa May is ready to increase Britain’s offer to the EU over the Brexit divorce bill, after signs that the hard Eurosceptics in her party will tolerate paying more money to break the deadlock in negotiations.

Mrs May has said that Britain “will honour commitments we have made during the period of our membership” and her team are working on different scenarios that would see her considerably increase the €20bn she has already put on the table.

Mel B in hot water with divorce judge

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Theresa May is ready to increase Britain’s offer to the EU over the Brexit divorce bill, after signs that the hard Eurosceptics in her party will tolerate paying more money to break the deadlock in negotiations.

The UK has bowed to EU demands on the Brexit divorce bill in a move that could result in the UK A senior EU official told the Guardian that the UK appeared ready to honour its share of the EU’s Theresa May got the agreement of key cabinet ministers last week to increase the amount that the

No big breakthroughs on money were made in the sixth round of Brexit talks, which conclude on Friday in Brussels.

But there was quiet progress as the two sides touched on the delicate choreography of a possible December deal, where a UK financial pledge would be tied to an agreement in principle on a transition period after Brexit.

“It is tactical but the situation is delicate,” said one senior EU official. “She has to move soon.” Michel Barnier, the EU’s chief negotiator, on Thursday called for Britain to offer some “real clarification” on the financial settlement.

If the UK does not move on money before the end of the month, France and Germany have warned they may try to hold out until next year before offering assurances on transition.

Irish Border Throws Unexpected Hurdle Into Brexit Talks

  Irish Border Throws Unexpected Hurdle Into Brexit Talks The future of the Irish border erupted unexpectedly into Brexit talks this week, as the European Union made new demands on Britain that risk distracting from efforts to reach a breakthrough by year-end. The EU circulated a document to diplomats that called for Northern Ireland to maintain the rules of the customs union and single market after Brexit. It says there must be no hard border on the island, meaning regulations have to be the same on each side of the line that will become the U.K.’s land frontier with the EU after Brexit.

UK prime minister Theresa May is expected to get the green light from ministers on Monday to increase her Brexit “ divorce bill” offer , narrowing the gap with the EU’s €60bn estimate in a bid to break the deadlock in talks with Brussels.

May is ready to increase Britain’s “ divorce bill” offer to the European Union in an effort to break the Brexit The issue of the divorce bill will be raised at a meeting of EU leaders (AFP/Getty). which the offer could be raised in return for Brexit talks moving on to their second major phase in the New

Sir Ivan Rogers, Britain’s former EU ambassador, said last month that Britain might have to pay a further €30bn if were to pay for its full 12-13 per cent share of the EU’s €240bn of outstanding commitments, known as “reste a liquider”. Long term liabilities, such as pensions, would add another €10bn to the bill.

British ministers and officials have told the Financial Times that although the negotiations leading up to the European Council on December 14-15 will be complex, they believe the money issue can be resolved.

Watch: '90% chance' of a Brexit deal being done? (Bloomberg)

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“The money isn’t the problem,” said one senior minister. “The real problem is deciding what our end-state relationship with the EU will be.” Another government figure said: “The domestic political obstacles to a deal may not be as high as they once seemed.”

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Theresa May is expected to propose a two year transitional period in her big Brexit speech on Friday. The PM is also expected to make an "open and generous" offer , potentially worth 20 bn euros over the two years.

Prime Minister Theresa May will offer the EU a €20 billion divorce bill in her key Brexit speech. The €20 billion would fill the gap created in the EU's budget by Brexit until 2020, ensuring that no member state would have to increase its contributions.

Mrs May’s room for manoeuvre on the exit bill has until now been limited by hostile Tory Eurosceptic MPs, some of whom have argued that Britain should not pay any money to leave the EU.

But in recent weeks, the mood has softened. One senior Eurosceptic MP agreed with the Treasury’s assessment that an exit bill running into the tens of billions of pounds was a small price to pay for a good trade deal with the EU. “It’s money down the back of the sofa,” the MP said.

Most Eurosceptics are focused primarily on questions of sovereignty and are prepared to swallow a bill to ensure that Britain becomes “free” again in March 2019. One said: “There’s a range of options. But if it was packaged as paying for past commitments, not market access, and if it wasn’t too big, I think most people would go along with that. We would be free, after all.”

They also fear that if talks break down in December that Mrs May’s own fragile position could be further weakened. Some Tory MPs fear the Brexit process will be thrown into chaos if Mrs May is forced to resign.

Bernard Jenkin, a veteran Eurosceptic viewed by Mrs May as a sounding board for backbench opinion, said: “There will be a balanced judgment to make about whether a very expensive deal is worth it. That depends on the quality of the deal they are promising to make at the end of an implementation period.”

"More work to be done" on Brexit deal Tusk tells May

  President of the EU Council Donald Tusk today warned Prime Minister Theresa May "there is more work to be done" to break the Brexit talks deadlock. The PM met leaders on the sidelines of an EU summit in Gothenburg, suggesting an increase could be made to the €20bn (£17.9bn) divorce offer previously tabled.But unless further , Tusk concluded.“Prime Minister May and President Tusk agreed that there is more work to be done and discussed how to take further steps forward together in advance of the European Council in December,” a Downing Street spokesman said.

Theresa May is willing to significantly increase Britain's' exit contributions to the EU in order to secure a deal. May has already signalled she is willing to pay €20 billion when Britain leaves. More: Theresa May Brexit divorce bill Boris Johnson.

Theresa May is set to offer the European Union a bigger ‘ divorce bill’ payment in the hope of breaking through to the crucial trade stage of the negotiations. Following a key meeting on Monday at Downing Street, May is reportedly ready to increase the UK’s offer to around £38bn.

Jacob Rees-Mogg, a rising star of the Tory right, said it was “perfectly reasonable to give some money” but Mrs May should make it clear that it was contingent on a final deal being agreed. He said a €60bn figure was “ridiculous”.

There is much haggling to be conducted in the next three weeks on the details of Britain’s financial commitments.

Some EU diplomats fear time may be too short to strike a deal and that the gap on a financial settlement may be too big to bridge before the December summit.

British negotiators are not expected to move before the Budget on November 22, while Mrs May will seek assurances from European leaders that any offer on money will be reciprocated with a decisive breakthrough in the talks. “The next step has to be a big single jump,” said one government figure.

Both sides believe the future relationship may prove an even more challenging negotiation. On Thursday, Mr Barnier warned Britain against regulatory “dumping” after it leaves the 28-member bloc, delivering a blunt speech on the challenges ahead in the talks.

At an event in Rome, Mr Barnier raised comments by Wilbur Ross this week, saying the US commerce secretary had “publicly and openly” urged Britain to diverge from the EU and converge towards the US on social, environmental, health, food and financial standards. “The UK has chosen to leave the EU. We regret and respect the decision. Will the UK also want to distance itself from the European model? That’s another question and a serious one.”

NOW SEE: Expert reveals how Brexit will unfold: 'We'll get a deal - but at a price'

Brexiteers appear to back £40bn EU divorce bill .
Theresa May appears to have won the backing of Cabinet Brexiteers to double the UK's "divorce bill" offer from £20bn to £40bn.At a tense two-hour meeting of senior ministers in 10 Downing Street, Boris Johnson and Michael Gove are believed to have agreed to the move - with conditions.

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