The amount of money that the UK will pay the EU in compensation for country’s withdrawal from the bloc is unlikely to be determined before November, Brexit Secretary David Davis said Tuesday.
“There won’t be a number by October or November,” Davis said on air of BBC Radio 4 broadcaster, answering a question about the timing for “divorce bill.”
Davis declined to say by when the exact payment would be set.
The UK held a referendum on June 23, 2016, deciding to leave the European Union.
Financial settlement became one of the main disputed issues at negotiations between the two parties.
According to various reports, the European Union may demand up to 109 billion dollars from the UK.
However, Brussels has not submitted its final demand yet.
Brexit negotiations officially started on June 19, when Davis arrived in Brussels to negotiate the terms with his EU counterpart Barnier.
The talks are expected to conclude by the end of March 2019.
It was reported that the EU’s initial offer suggested that all UK nationals residing in the bloc would be able to benefit from all the rights they currently enjoy, including the freedom of movement.
In June, the UK government suggested that EU nationals residing in the United Kingdom would have to apply for “settled status.”
In July, media reported that UK nationals residing in the European Union might lose the right to move freely between EU member states or travel back and forth from the UK, unless London offers the same guarantees to the bloc’s residents residing in the country.