ICEC

British PM May preparing to increase Brexit divorce bill offer

British Prime Minister Theresa May is preparing to offer up to 20 billion pounds ($26 billion) more to the European Union as part of a Brexit divorce bill, according to new report.

Unless there is movement in the negotiations to unravel more than 40 years of union, Britain may miss a December deadline to move the talks to a discussion of future trade ties, which businesses say is vital for them to make investment decisions.

EU negotiator Michel Barnier has called on Britain to spell out how far it would “honor its obligations” to break the deadlock.

Brexit minister David Davis said on Sunday that Britain will not offer a figure or a formula for how much it believes it owes the European Union.

source: Reuters

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