Britain does not expect £50 billion Brexit bill: Brexit minister David Davis

Britain's Secretary of State for Exiting the European Union David Davis arrives in Downing Street on March 29, 2017.
Britain's Secretary of State for Exiting the European Union David Davis arrives in Downing Street on March 29, 2017. PHOTO: REUTERS

LONDON (REUTERS) - Brexit minister David Davis said he did not expect Britain to have to pay £50 billion (S$86.7 billion) to the European Union as part of the Brexit process and said the era of huge sums being paid to Brussels was coming to an end.

British media reports have suggested that Britain could have to pay around £50 billion to £60 billion in order to honour existing budget commitments as it negotiates its departure from the bloc.

"We haven't actually had any sort of submission to us from the Commission. But our view is very simple, we will meet our obligations, we are a law abiding country," Mr Davis told broadcaster ITV on Thursday (March 30).

"We'll meet our responsibilities but we're not expecting anything like that," he said. "The era of huge sums being paid to the European Union is coming to an end, so once we're out, that's it."