Britain will attempt to offset Brexit cost with €150 billion worth of European Union assets : Telegraph.

Britain will attempt to offset the cost of Brexit by claiming a significant share of more than €150 billion (£127.5bn) worth of European Union assets, according to reports.

Michel Barnier, the EU’s chief Brexit negotiator, is understood to be preparing a list of up to £51bn of liabilities.

Officials in Whitehall are also drawing up their own list of EU financial assets, according to The Times.

Michel Barnier, Chief Negotiator for the Preparation and Conduct of the Negotiations with the United Kingdom 
Michel Barnier, Chief Negotiator for the Preparation and Conduct of the Negotiations with the United Kingdom  Credit: AP/Thierry Monasse

It comes after Sir Ivan Rogers, the UK’s former man in Brussels, warned that European Union will demand a £45.5bn Brexit bill.

Speaking a said that Brexit has exploded a “bomb” under the European Union’s budget and it will seek to claw back money from the UK.

However, as the EU’s second largest net contributor, the Government hopes to secure at least a £17bn share of assets.

Read More : The Telegraph.

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