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No deal no cash

Britain warns EU over Brexit deal

Published : Friday, 14 September, 2018 at 12:00 AM  Count : 142

LONDON, Sept 13: Brexit minister Dominic Raab issued a fresh warning Thursday that Britain would not pay the financial settlement promised to the EU after Brexit if there is no divorce deal.
London has agreed to settle its bill from four decades of membership, estimated at up to £39 billion (44 billion euros, $51 billion), as part of a withdrawal deal.
But talks on the wider agreement have stalled, prompting concerns that Britain could crash out of the European Union in March 2019 with any deal at all.
Raab was speaking ahead of a meeting of Prime Minister Theresa May's cabinet on the British government's planning for a no-deal scenario.
One consequence would be that "we wouldn't pay out the money that has been agreed"," he told BBC radio.
"It's not a threat, it's statement of fact as part of our no-deal planning.
"We would be mindful of our strict legal obligations, but the amount and the phased way it is set out in the withdrawal agreement would fall away because there would be no deal."
The final payment would be "substantially lower" than the estimate agreed so far, he said.
The Brexit negotiations are entering their final stretch, with both sides now aiming for an agreement in October or early November.
All EU states are also stepping up their planning for a no deal scenario.    -AFP

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