Germany sends warning to Theresa May

                                    

                                              Wolfgang Schäuble

Britain could be forced to keep paying billions into EU coffers for more than a decade after Brexit, says Germany’s finance minister.

In a chilling warning to Theresa May as she prepares for leaving the EU, Wolfgang Schäuble set out a hardline approach to negotiations.

In an interview with the Financial Times, he warned the exit bill for the UK could stretch as far as 2030.

EU proposals revealed this week suggest a €40 to €60billion divorce settlement could be on the cards.

And Schäuble said: “Until the UK’s exit is complete, Britain will certainly have to fulfil its commitments.

“Possibly there will be some commitments that last beyond the exit…even, in part, to 2030…Also, we cannot grant any generous rebates.”

Schäuble also warned that the UK would be bound by tax rules after Brexit which would hold it back from granting incentives to investors.

He said the UK must prepare for financial firms to flee to Europe and insisted there would be no special deal on migration if Britain wished to remain in the common market.