Brexit LIVE: EU furious at £39bn divorce bill threat – We will destroy your credit rating!

Posted on Jul 29 2019 - 8:39am by admin

EU Budget Commissioner Günther Oettinger fired the warning after Prime Minister Boris Johnson repeated his threat to withhold the huge sum in the event of a no-deal Brexit. He told German newspaper Tagesspiegel: “If he is serious with these statements, it would jeopardise the credit rating of the UK.” 

Mr Oettinger added that refusing to cough up would also damage future cooperation with the EU.

It comes as the UK is due to quit the bloc on October 31.

Mr Johnson has pledge to leave with or without an agreement and stepped up preparations for a no-deal Brexit.

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EU Budget Commissioner Günther Oettinger warned Britain must pay the £39bn Brexit bill (Image: GETTY)

9.35am update: Cross-party talks to block no deal have been going on “for months and months” – Former minister

Tory Remainer Sir Oliver Letwin told BBC Radio 4’s Today programme: “There are all sorts of talks going on between everybody and everybody else, and there will continue to be between now and October.

“It is certainly true we have been talking to one another for months and months.”

9.15am update: Brussels is “not the only game in town” for future trade deals – Raab

Foreign Secretary Dominic Raab said he would be reaching out to “all the other countries we want to do business with” while Parliament is in recess.

He told BBC Radio 4’s Today programme: “I haven’t set the firm plans yet, but that will include the US, Latin America, and Asia, because the negotiation with the EU is crucially important and we would love to get a deal that is acceptable to the UK.

“But Brussels is not the only game in town, and the opportunities of Brexit involve many of those growth markets of the future from Latin America to Asia, and we have got a US President who is speaking very warmly about this country.”

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Dominic Raab said Brussels is “not the only game in town” for future trade deals (Image: GETTY)

9am update: Sturgeon slams reports of Johnson’s £100m ad campaign for no deal

Scottish First Minister Nicola Sturgeon hit out after the Telegraph reported that Mr Johnson was planning a £100 million advertising campaign to prepare the public for a no-deal Brexit.

She tweeted: “What a shameful waste of money – and all while Tory welfare cuts are driving people to foodbanks and public services are still bearing the pain of Tory austerity.”

8.50am update: Truss ‘priority’ to agree US trade deal

Writing for The Telegraph, the new International Trade Secretary Liz Truss said: “My department has already locked in deals covering £85 billion worth of trade, which will apply whether we leave the EU with a deal or without one on October 31.

“My main priority now will be agreeing a free-trade deal with the US, building on the successful phone call between the Prime Minister and President Trump.

“I will be getting on a plane to the US in the next few weeks to move this forward.”

She added that the NHS “will not be put up for sale”.

Ms Truss is due to meet Woody Johnson, the US ambassador to the UK, this week before flying to Washington for trade talks.

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Liz Truss said agreeing a US trade deal is her “priority” (Image: GETTY)

8.35am update: Johnson to unveil biggest advertising campaign since WW2 to prepare for no-deal Brexit

The Prime Minister will launch the biggest advertising campaign since the Second World War to get the UK ready for a no-deal Brexit.

On Sunday, Mr Johnson told ministers to ramp up no-deal preparations, the Telegraph reported.

Part of the plans include up to £100 million on advertising in the next three months, Government sources said.

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Mr Johnson is ramping up preparations for a no-deal Brexit (Image: GETTY)

8.15am update: UK and EU not ready for no deal – CBI

Neither the UK nor the EU is ready for a no-deal Brexit, the Confederation of British Industry (CBI) has warned.

At least 50 trade associations and thousands of companies from all areas of the UK’s economy were consulted to deliver 200 recommendations in the report.

The business group welcomed Britain’s preparations for Brexit, but said that the “unprecedented nature” of exiting the bloc meant “some aspects cannot be mitigated”.

The CBI added: “The EU lags behind the UK in seeking to prevent the worst effects of a no-deal scenario.

“And although businesses have already spent billions on contingency planning for no-deal, they remain hampered by unclear advice, timelines, cost and complexity.”

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