Media reports suggest that Theresa May will provide a Brexit divorce bill of €20 Billion. Her speech comes after Boris Johnson takes back the threat to resign from his post. The top EU adviser office of the British PM is contacting the top leadership of the European Union to let them know the figures contained in her speech.
Brexit Divorce Bill Falling Short of EU Expectations
The EU Brexit divorce bill may not be what the EU leaders expect. The British government is hopeful that the new offer will restart the stalled negotiation process. The PM is optimistic that the announcement would help improve the relationships between the UK and the EU.
How Will €20 Billion Help EU?
The British government understands the importance of its contributions. Therefore, Britain expects that this amount would help the EU fill the budget gap until 2020. Furthermore, Britain hopes that the amount they pay will ensure that no member of the European Union needs to increase their contributions.
Will €20 Be Good Enough?
There is an ongoing debate about the right amount of the Brexit divorce bill. Previously, European Union suggested that Britain must pay €60 billion to get out of the European Union. This amount is only one-third of what the EU demanded. However, Britain still sees it as progress in the right direction.
Boris Johnson on the Brexit Divorce Bill
Boris Johnson, the British Foreign Secretary, has taken back his decision to resign. He has already shared his vision for the future of the EU-UK relations. Furthermore, he believes that Britain must not make any payment to the European Union for accessing the single market.
Instead, he wants his country to follow in the footsteps of Canada and make a free trade arrangement. He does not want the UK to have a Swiss Style relationship with EU. The Swiss Style of relationship means paying the European Union to have access to the single market.
No Finer Details to Come Out
The inside sources also suggest that Theresa May’s EU speech will not discuss any modalities of the EU-UK relationship future. Therefore, the political analysts believe that a straightforward approach will keep the Brexit negotiations open and forward-looking.
The 10 Downing spokesperson has also denied reports suggesting that Britain would pay €10 billion. Furthermore, the spokesperson also denied rumors that Britain will pay additional money to reach a total of €40 billion.
There is no certainty as of now about the right amount of money that Great Britain needs to pay to the EU. However, the Theresa May and the Brexit Secretary, David Davis will work with the Brussels to negotiate the right Brexit divorce bill. Even if Theresa May comes to terms with EU on the amount, it will be a massive challenge for her to get it passed through the British parliament. Theresa May will have to work hard to get a Brexit divorce bill victory.