UK set October 2018 deadline for deal: EU

Britain's withdrawal agreement from the European Union must be ready by October, the bloc's Brexit negotiator Michel Barnier says.

EU negotiator Michel Barnier says it's not possible to put a concrete figure on the Brexit bill.

EU negotiator Michel Barnier says it's not possible to put a concrete figure on the Brexit bill.

"We will need to have the final version of the withdrawal agreement ready by October 2018, in less than one year," Barnier told a news conference on Friday.

His comments come after British Prime Minister Theresa May struck a deal with the EU to move Brexit talks on to the next phase.

Barnier also said it was not possible to put a concrete figure on the amount of money Britain will have to pay the EU upon exiting the bloc because numbers may change in the future.

"I have never quoted any figures and will not start today ... because they can change," he told a news conference.

Barnier said he was satisfied with the agreement between the EU and Britain that no EU country, including Britain, would have to pay more or receive less as a result of Britain's decision to leave the bloc in 2019.

He repeated the words of May that no EU country, including Britain would have to pay more or receive less as a result of Brexit.

"The UK will honour all the commitments entered into during its EU membership."

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