Britain has reportedly reached a €45-55 billion divorce bill deal with the EU

Christopher Furlong/Getty ImagesPrime Minister Theresa May
  • The UK has finally agreed a “divorce bill” deal with the European Union, according to multiple reports.
  • It could pay around €50 billion as it leaves the European Union.
  • Britain may be on the hook for payments for decades to come.

Britain has agreed a deal with the European Union over its Brexit “divorce bill,” according to new reports from The Telegraph and The Financial Times.

Citing unnamed diplomats, The FT is reporting that Britain has agreed to liabilities of up to €100 billion, while it expects to ultimately pay “less than half that amount.”

The Telegraph, meanwhile, reports that the UK will reportedly pay between €45-55 billion as it leaves the European Union, with the exact figure depending on how it is calculated.

The divorce bill has been a major sticking point in negotiations, with EU negotiators refusing to progress talks onto subjects like the transition deal until “sufficient progress” was reached on it and other issues like EU citizens’ rights and the Irish border.

The European Union has previously suggested it believes Britain owes as much as €60 billion, a figure the UK has blanched at. In September, Theresa May offered €20 billion, but subsequent reports in November said that she was willing to double this to around €40 billion.

According to The FT, Britain may be on the hook for decades to come, rather than a single lump sum.

The price of the pound surged against the dollar following the publication of The Telegraph’s report.

Pound dollar nov 28 brexit divorce bill

In an emailed statement, a spokesperson for the Department of Exiting the European Union said: “Intensive talks between the UK and the European Commission continue to take place in Brussels this week as we seek to reach an agreement.

“We are exploring how we can continue to build on recent momentum in the talks so that together we can move the negotiations on to the next phase and discuss our future partnership.”

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