Luxembourg's Prime Minister Xavier Bettel met with Theresa May last September at the UN General Assembly (Stefan Rousseau/PA)

Britain could have to pay a Brexit divorce bill of more than £50 billion, the prime minister of Luxembourg has warned.

Xavier Bettel compared the EU stance to Margaret Thatcher’s bitter battle to get a major rebate for the UK in the 1980s.

Mr Bettel told The Mail on Sunday: “It is now time for the European Union to make an analogy with the famous quote of Mrs Thatcher, ‘We want our money back’.

Expand Close Xavier Bettel accused Boris Johnson of bragging when he claimed Britain could have its cake and eat it over Brexit (Victoria Jones/PA) / Facebook

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Whatsapp Xavier Bettel accused Boris Johnson of bragging when he claimed Britain could have its cake and eat it over Brexit (Victoria Jones/PA)

“Concerning the exit bill, it is important to underline that the British government took this commitment in the past and needs to honour it. It is not a penalty.

“The sum ranges between £36 billion and £54 billion.”

Mr Bettel accused Foreign Secretary Boris Johnson of “bragging” when he claimed Britain could have its cake and eat it over Brexit.

He said: “It is not possible to have your cake and eat it too – Boris Johnson knows that.”

PA