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Britain's Brexit divorce bill has finally been revealed some 534 days after the country voted to leave the EU.

Downing Street said the figure would be 40 to 45billion Euros - or between £35billion and £39billion in today's money.

The huge sum comes despite Boris Johnson previously accusing the EU of "extortion" and claiming they could "go whistle".

And it reveals Britain will carry on paying in for at least a year after exit, trashing Brexiteers' promise to win back £350million a week for the NHS. The £350million was never going to come back in full because large amounts of it never actually went to Brussels in the first place.

Asked if the bill was too much, Theresa May's spokesman said: "We would look at it as a fair settlement of our obligations."

It comes after Theresa May finally clinched a deal on Brexit after all-night talks in a move that may have saved her career - for now.

EU Commission President Jean-Claude Juncker announced he would recommend Britain has made "sufficient progress" at a summit next week after agreement on the bill, Northern Ireland and citizens' rights.

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How Theresa May's all-night Brexit deal unfolded After a week of pain and 534 days since the referendum, there was no single moment when Theresa May knew she'd clinched a deal on 'Phase 1' of Brexit talks. But hopes were raised after she spoke to EU Commission President Jean-Claude Juncker and Irish Premier Leo Varadkar at about 7.30pm on Thursday night. The Prime Minister then had two crucial phone calls with DUP leader Arlene Foster - one at 9pm, one at 11pm - and the deal was agreed by midnight. All the while the Downing Street staff Christmas party was going on around her. Aides refuse to say if she had any champagne. At 12.02am, her chief whip Julian Smith gave the game away. "I will continue to do everything I can to ensure that the views of @Conservatives MPs are fully reflected in phase 2," he tweeted. Despite the swirling rumours, the PM popped off to bed for a couple of hours before setting off at 3.45am for RAF Northolt. The red-eye flight lifted off to Brussels at 4.30am. She and her Brexit chief David Davis had a 6am UK time breakfast of Actimel, orange juice and bread with Mr Juncker and his chief negotiator, Michel Barnier, where they sealed the deal. While they were still inside, powerful EU aide Martin Selmayr tweeted a photo of white smoke - the symbol of choosing a new Pope. Finally, Mrs May and Mr Juncker emerged to say it had been done at 6.30am UK time. With that she whisked herself off and was back in the UK by 9.30am.

The exact divorce bill has not been agreed in today's 15-page agreement but the method to work it out has.

"We've now agreed a settlement that is fair to the British taxpayer," said Theresa May.

"We will be able to invest more in our priorities at home, such as housing, schools and the NHS."

But it is unlikely to be £350million a week.

Britain will carry on paying in to the EU budget in 2019 and 2020 "as if it had remained in the EU", even though it leaves in March 2019.

This is set to add billions to the final bill and is a major blow to Brexiteers.

(Image: AFP)

(Image: REUTERS)

The financial settlement itself will be drawn up and paid in Euros - meaning Britain will lose out because the pound plummeted on referendum night.

The pound rallied to a six-month high after today's announcement, trading at 1 Euro and 14.8 cents. But it was still well below its rate on June 23 last year.

Britain will have to pay its share of budget commitments "outstanding at 31 December 2020".

It will take 12 YEARS to be repaid the huge pot Britain has in the European Investment Bank. The sums will be repaid in instalments of 300million Euros a year.

Britain will honour commitments it made before 2019 for refugees in Turkey.

It will also continue to pay into the European Development Fund in full until the current round ends in 2020.

(Image: REUTERS)

Triumphant Brexiteer Cabinet minister Michael Gove said today: "I think it’s always a mistake to say what the result of the match is until the final whistle has blown.

"The final whistle blew this morning and Theresa May won.

"She not only secured agreement… it’s also the case that she’s got a deal in the interests of the whole UK."

Influential Brexiteer Tory Steve Baker was more cautious, saying: "I am satisfied this is a reasonable compromise."

But Ukip leader Nigel Farage declared the agreement was "not Brexit".

Labour's Shadow Brexit Secretary Sir Keir Starmer said agreement was "two months later than originally planned".

He added: "We cannot have another year of chaos and confusion or the farcical scenes we saw earlier on in the week that put jobs and the economy at risk.”