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UK PM Theresa May delivers major Brexit speech in Italy

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U.K. Prime Minister Theresa May will give a highly anticipated speech on ongoing Brexit negotiations in Florence, Italy on Friday afternoon.

The speech is expected to outline the U.K.'s proposal for a transitional deal as it exits the European Union. It has been reported that this could last up to two years and cost the U.K. 20 billion euros, all in exchange for continued membership of the single market.

Eyes will be on May following a turbulent week for her Conservative Party, in which Foreign Secretary Boris Johnson was accused of backseat driving in pushing for a hard Brexit.

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