Britain will meet its Brexit financial obligations - minister

[LONDON] Britain will meet its financial obligations when it leaves the European Union, transport minister Chris Grayling said on Friday, hours before Prime Minister Theresa May makes a high-stakes speech to reset Brexit talks.

Mrs May, weakened after losing her Conservative Party's majority in a June election, is hoping to move talks forward with the EU in a speech in Florence, Italy, on Friday. According to Grayling, the speech will set out the principles of a future relationship.

"It's not about the specific purpose of where we might end up at that point in the negotiations ... what she is doing is setting out today the principles of a future relationship, she is talking about how we move the negotiations forward," Mr Grayling told BBC radio.

Asked whether reports that Britain will offer a financial settlement to the EU are correct, Mr Grayling said: "We are a nation that meets its obligations. Of course we absolutely accept that Britain has obligations ... but what we are looking to do though, is not simply today to start talking about the nuts and bolts of negotiation."

REUTERS