UK's Johnson Doesn't Want a No-Deal Brexit But Can Live with It

British Prime Minister Boris Johnson does not especially want to end the Brexit transition period without a new trade agreement in place, but he said on Sunday that he agrees that Britain could live with such an outcome.

With the expiry of the transition period quickly approaching on 31 December, Johnson and the head of the EU executive, Ursula von der Leyen, decided to speed up talks on a post-Brexit agreement by phone on Saturday, reports Reuters.

"I think it's there to be done," Johnson said during an interview on BBC television.

"Alas, there are some difficult issues that need to be fixed, and there's no question that the EU needs to understand that we're utterly serious about needing to control our own laws and our own regulations, and similarly they need to understand that the repatriation of the UK's fisheries ... is very important."

Asked whether he was worried about the potential impact of a no-deal situation in the middle of the COVID pandemic, Johnson said: "I don't want the Australian WTO-type outcome, particularly, but we can more than live with it.

"I think the people of this country have had enough ... of being told that this will be impossible or intolerable. I think we can prosper mightily under those circumstances."

Last week, the government told importers and exporters that whether there was a deal or not, they would have to complete additional paperwork and that a lack of planning on their part could lead to 100 km of truck queues.

This sparked opposition allegations that ministers set up industry to take the responsibility for any turmoil that could follow a botched Brexit.

The EU submits that any agreement must be sealed by the end of October or at the latest in the first days of November in order to allow adequate time for the bloc to ratify it before the end of the year.

Further trade negotiations are expected to take place next week in London and the following week in Brussels before the 27 national EU leaders meet to review progress on Oct 15-16. London has also said that by Oct 15 it needs clarification about whether or not a deal is feasible.

An estimated trillion euros ($1.17 trillion) of annual trade would be at stake if they fail to reach an agreement.