Eurocrats are set to demand Britain pays the multi-billion pound fee to cover their losses as the UK steps way from the bloc and into the broader world.
The huge sum includes money for Eurocrat’s pensions as Brussels scramble to rinse as much money as possible from Brexit Britain during upcoming negotiations.
But sources close to the Chancellor claim Mr Hammond will ignore the massive payout, chiming in with the Prime Minister and Brexiteer-in-chief Boris Johnson, who claimed the bloc’s demands were unreasonable.
Over the weekend the Chancellor accused Brussels of “overstating” its position ahead of the negotiations, which will begin after Theresa May invokes Article 50 on March 29.
A source close to Mr Hammond added: “We don’t recognise the 60 billion.”
It comes after claims Brexiteers in the cabinet want Mr Hammond to cap any exit settlement at a maximum of £3billion.
Foreign Secretary Boris Johnson has already publicly urged Mrs May to resist a large payment, while International Trade Secretary Liam Fox dismissed the idea as “absurd”.
Meanwhile Theresa May is set to demand any payments include a £9billion refund for British money paid into the EU’s coffers.
The Tory leader is expected to remind Eurocrats Britain is owed the money, currently being held by the European Investment Bank (EIB), after the triggering of Article 50.
The bill is likely to be dented by the British owned cash currently caught up in the Brussels bureaucracy.
But Mrs May is expected to go further, telling the bloc the cash grab to fill the deficit in the EU’s pension scheme is unacceptable.
Legal advice making its way around Westminster claims the Government should not have to pay a penny – and is entitled to get its money back from the depths of the bloc’s coffers.
The legal opinion states any edict from Brussels forcing Britain to pay into their system is “wholly without merit in law” and that it is “hard to see any credible basis upon which the UK could be said to be obliged” to pay for Eurocrat’s pensions.
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