U.K. Said to Direct Aid to Win Support for WTO Brexit Talks
- Theresa May’s team plan to leverage aid to help businesses
- Money will woo poorer countries before trade talks at WTO
Prime Minister Theresa May is seeking to shield British business outside Europe as she prepares to end four decades of trade privileges the U.K. enjoyed as part of the 28-nation bloc.
Photographer: Chris Ratcliffe/BloombergThe U.K. is planning to use its international aid budget of 12 billion pounds ($14.6 billion) to win friends among the world’s poorest countries ahead of crucial trade talks, according to two senior government figures who are familiar with the matter.
Financial help will go to countries that Britain will need on its side as Europe’s second-biggest economy seeks to re-establish trading rights at the World Trade Organization once it abandons the European Union, according to the officials, who asked not to be named because the proposal is confidential. Currently, the U.K.’s negotiations at the WTO are conducted by the EU.