Britain is willing to spend $47 billion for the most expensive 'divorce' in history

The British government is ready to spend 40 billion euros ($47 billion) under the agreement to leave the European Union (EU), the Sunday Telegraph newspaper reported on August 6, citing a source familiar with the negotiations.

British Prime Minister Theresa May. (Photo: Reuters)

The Sunday Telegraph quoted three unnamed sources as saying that British Prime Minister Theresa May's government is willing to pay 10 billion euros a year for the first three years after leaving the EU in March 2019. The remaining amount will be completed along with detailed trade negotiations.

Payments will only be made once the parties reach an agreement, including a commercial deal, the source added.

The British government agency in charge of Brexit negotiations declined to comment on the above information.

The UK has yet to give an official indication of how much the government is willing to pay for Brexit, while EU officials have put the figure at €60 billion and want the payment to be completed quickly before starting to negotiate complex issues.

"We know the EU is asking for 60 billion euros, but the 50 billion euro figure is extreme. The figure we have given is closer to 30 billion euros, but in reality it could be extended to 40 billion euros," the Telegraph quoted an unnamed senior official as saying.

Another source also said that the amount of money that Britain is willing to pay is between 30 billion Euros and 40 billion Euros.

Britain decided to leave the EU after a referendum in June last year with a narrow margin of 51.9% in favor and 48.1% against. Brexit supporters argue that Britain has had to give up too much of its sovereignty to the European Union, losing the right to decide many of its own issues; therefore, only by leaving the EU will Britain be able to control hot-button issues such as immigration, thereby reducing the burden on public services, housing and employment.

If Britain has to pay 60 billion euros in compensation as proposed by the EU, this will be the most expensive "divorce" in history.

According to Dan Tri