The final deal is set to be agreed within hours and could be announced tomorrow by Prime Minister Rishi Sunak, as first reported today by Bloomberg. Sources have confirmed the report to Sky News.

The issue has been sat on the prime minister's desk for weeks as he has been attempting to negotiate a higher sum for British scientists to ensure they catch up after the two-year absence.

There had been fears the deal between the UK and and the EU may stall over the sums involved.

Sky News understands that Mr Sunak has authorised the deal in principle and is likely to speak to Ursula von der Leyen, the European Commission President, to finalise it within hours.