Davis dismisses UK's £50bn Brexit divorce bill as 'nonsense'

Reacting to Sunday Times report

Mike Sheen
clock • 2 min read

Reports that the UK will pay the European Union up to £50bn as part of the agreement to leave the bloc have been dismissed by Brexit secretary David Davis as "nonsense".

The Sunday Times first reported that Prime Minister Theresa May is preparing proposals, set to be released after the Conservative party conference in October, which would see the UK make payments of between £7bn and £17bn a year to Brussels for three years after Brexit. Sterling falls to eight-week low as uncertain economic outlook weighs However, speaking on the BBC's Andrew Marr Show on Sunday, Davis said The Times' story was "nonsense" and "completely wrong", and also talked down the prospect of trade talks with the EU beginning in October. The schedule agreed by UK and EU Brexi...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Europe

FundCalibre's Schooling Latter: The shifting sentiment in Europe

FundCalibre's Schooling Latter: The shifting sentiment in Europe

Portfolio picks

Juliet Schooling Latter
clock 27 March 2024 • 4 min read
Timing of ECB rate cuts in doubt as core eurozone inflation measure disappoints

Timing of ECB rate cuts in doubt as core eurozone inflation measure disappoints

Services price inflation remains sticky

Valeria Martinez
clock 01 February 2024 • 1 min read
Eurozone inflation rises to 2.9%

Eurozone inflation rises to 2.9%

Driven by energy prices

Elliot Gulliver-Needham
clock 05 January 2024 • 1 min read
Trustpilot