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Here’s all you need to know ahead of May’s speech in Florence


British Foreign Secretary Boris Johnson speaks ahead of Prime Minister Theresa May during her last campaign visit at the National Conference Centre on June 7, 2017 in Solihull, United Kingdom.

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British Foreign Secretary Boris Johnson speaks ahead of Prime Minister Theresa May during her last campaign visit at the National Conference Centre on June 7, 2017 in Solihull, United Kingdom.

While Johnson is an outspoken supporter of the U.K.’s departure from the EU, he has faced accusations of trying to undermine the prime minister with a 4,000-word article detailing his post-Brexit vision.

On Tuesday, Britain’s foreign secretary reportedly said he would have no option but to quit if May promoted continued payments to the EU in exchange for access to the single market on Friday. But Johnson later dismissed this claim.

“I am mystified by all this stuff,” Johnson told the Guardian in an interview on Tuesday. “Not me, guv. I don’t know where it’s coming from, honestly.”

On Tuesday evening – after Johnson had dismissed reports indicating he could resign – it was reported May would offer 20 billion euros ($24 billion) to fill a post-Brexit hole in the EU’s budget, according to the Financial Times citing sources which could not be verified by CNBC.

Johnson’s Telegraph article, published last Friday, argued Britain should not have to pay for access to the EU’s single market – a tariff-free trading bloc for goods and services.

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