The UK will pay only a fraction of the £39 billion ($47.7 billion) demanded by Brussels in a no-deal Brexit scenario, according to reports. Boris Johnson is expected to break the news to EU boss Donald Tusk in an upcoming meeting.
Former prime minister Theresa May agreed to fork out £39 billion ($47.7 billion) in case of a hard Brexit, but the new occupant of 10 Downing Street has other ideas. According to British media, Johnson’s government has slashed the total of its divorce bill with Brussels, and will not dole out more than £9 billion ($11 billion).
London believes that a no-deal Brexit will cost significantly less than previously estimated because there won’t be fees associated with any transition period, according to the Mail on Sunday.
BoJo is expected to inform the European Council president of the decision during a meeting on the sidelines of the G7 summit in France on Sunday.
The move will likely enrage the EU’s leadership, which has been highly critical of Johnson’s vow to withdraw Britain from the bloc by October 31 – with or without a deal.
On Saturday, Tusk warned that he would not cooperate if Johnson pursues a hard Brexit, cautioning the UK prime minister against going down in history as “Mr No-Deal.”