Europe’s chief Brexit negotiator, Michel Barnier has told the Brexit transition period could be extended by another two years, up to December 2022, a proposal that would cost billions and infuriate Tory Brexiters.
At a special meeting with ambassadors from the EU’s 27 member states, Barnier rushed to extend the Brexit transition until the end of 2022. His idea would allow an extra two years to negotiate a trading relationship, but means the UK would continue to follow EU rules and pay into its budget with no say for six and a half years after the 2016 vote to leave.
Such an extension, which would be agreed jointly, would give the UK and EU more time to complete a trade deal. The length of the extension is still need to be finalised by negotiators. But it will also fuel the suspicions of Brexiters that the break from Brussels will be in name only. Britain would be expected to make a significant contribution to the EU budget which EU diplomats said would be in the range of €10bn-€15bn a year.
Theresa May has already mentioned for an extension of only a few months would be needed, but the EU is still waiting for UK to make a formal proposal.
> Shiuly Rina
