The Conservative Party manifesto has said the Government may be willing to make a “reasonable” contribution to the European Union after Brexit.

The flagship document also pledges to come to a “fair settlement” for Britain’s EU exit bill – but warns Brussels that the days of Britain “making vast annual contributions to the European Union will end”.

The manifesto confirms that a Tory Brexit would take Britain out of the European single market and customs unions.

The Conservatives have pledged to secure the rights of EU citizens living in the UK and British expats in Europe, as well as confirming Britain will remain part of the European Convention of Human Rights for the next Parliament.

It also rules out a Scottish independence referendum until after Brexit is complete and aims to maintain “as frictionless a border as possible” between Northern Ireland and the Republic of Ireland.

The manifesto said: “As we leave the European Union, we will no longer be members of the single market or customs union but we will seek a deep and special partnership including a comprehensive free trade and customs agreement.

“There may be specific European programmes in which we might want to participate and if so, it will be reasonable that we make a contribution.

“We will determine a fair settlement of the UK’s rights and obligations as a departing member state, in accordance with the law and in the spirit of the UK’s continuing partnership with the EU.

“The principle, however, is clear: the days of Britain making vast annual contributions to the European Union will end.”