Britain pledges £705m to prepare post-Brexit borders

Britain yesterday pledged £705 million ($890 million, 788 million euros) to prepare its borders for cutting ties with the European Union on December 31, amid concern within government that it is not ready.

The money will fund new border posts, IT systems and 500 new staff to both ensure security and handle new customs controls after Britain leaves the EU's single market and customs union, the government said in a statement.

Britain ended its EU membership on January 31, almost four years after the historic Brexit vote, but agreed a standstill transition period until the end of the year while it tries to negotiate a new trade deal with Brussels.

The talks are moving slowly, sparking alarm among businesses that almost half a century of economic integration with the EU will end abruptly in a few months' time.