The PM claimed the controversial giveaway of Britain's territory in the Indian Ocean would cost only £3.4 billion over the next century and was necessary to secure a vital military base.

Just hours before the crucial moment, it emerged a High Court has granted an injunction stopping the negotiations being concluded.

The Prime Minister made the announcement this afternoon after an 11th hour legal bid to halt the handover failed.

The PM claimed the controversial giveaway of Britain's territory in the Indian Ocean would cost only £3.4 billion over the next century and was necessary to secure a vital…

Ministers have insisted the deal to transfer sovereignty of the British territory is 'good value' - despite Sir Keir's counterpart describing it as a 'great victory'.