LONDON: Boris Johnson, the leading candidate to succeed Theresa May as Britain’s next prime minister, said he would withhold a previously agreed 39 billion pound ($50 billion) Brexit payment to extract better terms from the European Union.

Boris Johnson said, ‘I always thought it was extraordinary that we should agree to write that entire cheque before having a final deal. In getting a good deal, money is a great solvent and a great lubricant.’

A withdrawal agreement negotiated by May fixes outstanding British liabilities of 39 billion pounds to be paid to EU over a number of years. (Agencies)