Brexit minister David Davis said he did not expect Britain to have to pay 50 billion pounds ($62 billion) to the European Union as part of the Brexit process and said the era of huge sums being paid to Brussels was coming to an end.
British media reports have suggested that Britain could have to pay around 50 to 60 billion pounds in order to honor existing budget commitments as it negotiates its departure from the bloc.
“We haven’t actually had any sort of submission to us from the Commission. But our view is very simple, we will meet our obligations, we are a law abiding country,” Davis told broadcaster ITV on Thursday.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.