Theresa MayMoney is likely to be one of the most contentious elements of the upcoming divorce talks. Other EU nations want Britain to pay its share of budget commitments - estimated informally by EU officials at roughly €60 billion ($NZ90.4 billion). The report also concludes that, in return, Britain will not be in a position legally to claim a share of the EU's assets on exit unless they are included in a withdrawal agreement. Britain will have to weigh up the financial and political costs of making payments to the EU in return for agreement on things such as EU market access, the committee said. "The political and economic consequences of the UK leaving the EU without responding to claims under the EU budget are likely to be profound."

Source: Otago Daily Times March 04, 2017 21:45 UTC