UK can't afford Brexit transition period, will not solve disagreements: Official

British Prime Minister Theresa May's plans to consider extending a so-called transition period to break the deadlock in Brexit talks is a bad idea, according to a leading eurosceptic lawmaker in her Conservative Party.

Jacob Rees-Mogg, chairman of the European Research Group of anti-EU lawmakers in the Conservative party, said extending the transition would be expensive and would not solve disagreements around a so-called backstop - an insurance policy to ensure there will be no hard border on the island of Ireland.

"I think it's a poorly thought-through idea - it takes us into the next (EU) multi-annual financial framework .., Rees-Mogg told Sky News. "It could be a very expensive thing to do but it also doesn't solve the issue of the backstop because the backstop would remain at the end of this additional transition."