U.K. will have to contribute to EU budget until 2020 if it wants reasonable terms on a Brexit transition
agreement.
British negotiators are discussing whether to offer budget payments in their talks with EU, who is concerned about avoiding a funding gap caused by U.K.’s departure.
Gap would reach 17 billion euro for the period from March 2019, when Brexit is scheduled to take effect, to the end of the current seven-year budget framework in 2020.
U.K. in return will seek a “sensible” EU offer on a deal covering what govt calls the implementation phase, covering at least two years after March 2019.
Source: Bloomberg
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