12/1/2016, 12:32 PM (Source:
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Davis: U.K. could pay EU contributions after Brexit

Britain's Brexit secretary David Davis told the Parliament on Thursday that the United Kingdom would consider making budget contributions to the bloc even once it left the European Union in order to get "the best possible access for goods and services to the European market."

Answering a question by Labour Member of Parliament Wayne David, the secretary explained there is a difference between picking off an individual policy and setting out a major criteria, the latter being that the country obtains the best possible access for goods and services to the EU market. If that's the case, then the government would surely consider paying such contributions as part of a wider deal, Davis said. At the moment, the U.K. contributes around £8 billion net a year, making it one of the biggest net contributors to the EU budget.

The comment, that is likely to cause tensions among Eurosceptics who believe the country is able to negotiate a better arrangement, comes after foreign secretary Boris Johnson told EU ambassadors he doesn't agree with the cabinet's policy on freedom of movement. Johnson was one of the biggest supporters of Britain's decision to leave the EU before the June's referendum.

TeleTrader Newsroom / IB