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31 October 2017

Financial Times: Brexit deal will favour EU on money, says Davis


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David Davis has admitted that Britain’s exit deal with the EU “will probably favour the union on things like money”, as he gave the clearest glimpse yet of the government’s preferred end game for Brexit talks.


The Brexit secretary told members of the House of Lords the government wanted to wrap up Brexit talks by October 2018, in line with the EU’s timetable, giving parliament time to vote on the deal and giving business a “bit more time to prepare”.

But he said that it was vital that Britain and the EU negotiate a political agreement on a future trade deal alongside the divorce agreement, ensuring that parliament could vote on the entire package.

“The withdrawal agreement will probably favour the union on things like money,” Mr Davis said, hinting that Britain will have to increase its opening €20bn offer on the divorce bill to move talks on to the next phase.

Mr Davis said the divorce agreement should include provisions for a transition deal lasting about two years but it should be taken as a package with the outline of a future trade deal. “We see the two as inseparable,” he told the House of Lords EU committee.

The agreement on the future relationship “will favour both sides”, he said, suggesting that parliament would be more willing to swallow a difficult divorce settlement if it could see the benefits of a wider Brexit deal.

Mr Davis conceded that Brussels regards any prospect of a fully-formed trade deal being agreed by October 2018 as unrealistic and that Michel Barnier, the EU chief negotiator, had spoken only of “scoping” a deal.

“I take the view that it should be an agreement,” Mr Davis said. “It could be a political agreement at that stage. If not, how will the Commons or Lords decide if a deal is acceptable?” [...]

Full article on Financial Times (subscription required)



© Financial Times


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