Nigel Farage has declared that Boris Johnson is taking the country to "the right place", as he conceded that Brexiteers will not get everything they want out of a post-Brexit deal with the EU.

The Brexit Party leader insisted that the Prime Minister must be prepared to walk away without a trade agreement at the end of next year's transition period, if he fails to win favourable terms from Brussels.

The pro-Brexit campaigner claimed that there was now a one in four chance of the transition period ending without a deal.

But Mr Farage said that the UK had now "turned the corner" and was "heading to the right place".

In an interview on LBC, with Liam Halligan, he conceded that it was "just not possible" to "get everything I want" from the deal, saying there would be compromises on areas such as fishing rights.

Mr Farage said: "For the first time, I think we’ve potentially got the upper hand in these negotiations.

"So we could end up leaving with no trade deal. But if that happens, so what frankly. Business will adapt, we all adapt to changed circumstances. I would say there’s a 25 per cent chance of us leaving with no trade deal. I wouldn’t put it at more than that."