UK Prime Minister Theresa May proposed for the first time to pay to maintain trading links with the European Union for up to two years beyond Brexit as she laid out her most detailed ever blueprint for a deal.
Speaking in Florence, Italy, May said the U.K. stood willing to cover the cost of EU membership beyond March 2019 in return for a transitional period that mirrored the status quo of tariff-free, regulation-light commerce. The sum could run to about 20 billion euros ($24 billion).
“I do not want our partners to fear that they will need to pay more or receive less over the remainder of the current budget plan as a result of our decision to leave,” May said in the great hall of a former monastery in the Tuscan capital. “The U.K. will honor commitments we have made during the period of our membership.”
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