An earlier post by HoursTV talked about the looming bill which Britain is expected to pay for the Brexit. However, Britain seems to have other plans when it comes to paying the cost of Brexit bill.
Legal Position to not pay any Brexit bill
The House of Lords analyzed that Britain does not need to pay the Brexit bill. It argues that the UK has a strong legal position.
The House of Lords also seemed dubious about the calculations made by the European Union. The House of Lords called the estimates as hugely speculative. The report also claimed that each of the items on the bill needed separate interpretation. The bill placed by European Commission’s Chief Brexit Negotiator amounts to £52bn.
The most controversial issue in Brexit bill
One of the most debated item in the Brexit bill is the amount. It is one item speculated to remain contentious throughout the negotiations period. The legal experts also believe that if the UK is not able to reach any deal with the EU, it does not need to pay a single penny for its EU negotiations.
Brexit Secretary on Brexit bill payment
The Brexit Secretary David Davis has said that the Government may also consider paying the bill in installments. He was of the view that Britain wanted to pay the amount as it desired to ensure favorable access to Europe’s markets.
On the other hand, the UK PM, Theresa May has warned EU leaders that Britain is prepared to go with the Brexit, evenn if it fails to reach any deal with the European Union.
Here is what Theresa May had to say about the EU negotiations on Britain’s exit from the European Union.
“And while I am confident that this scenario need never arise – while I am sure a positive agreement can be reached – I am equally clear that no deal for Britain is better than a bad deal for Britain.”
On the other hand, the report from the House of Lords EU financial affairs sub-committee talked about competing interpretations. The report also said that both EU and Britain need to understand the consequences of not reaching a deal. Here is how the report mentioned about a no deal scenario.
“An inability to reach an agreement on the budget will undermine the Government’s aim to negotiate market access on favorable terms.”