The first round of talks on Britain's withdrawal from the European Union will start next Monday, the Government has announced.

It follows a meeting in Brussels on Thursday where both sides agreed that the formal negotiations under the Article 50 process can now commence.

A joint statement said: "Michel Barnier, the European Commission’s Chief Negotiator and David Davis, Secretary of State for Exiting the European Union, agreed today to launch Article 50 negotiations on Monday June 19.”

The EU's chief Brexit negotiator Michel Barnier and Brexit Secretary David Davis. Credit: AP/PA

Brexit Secretary David Davis will play a key role in negotiations with the EU, alongside Liam Fox, International Trade Secretary and Boris Johnson, Foreign Secretary.

Former French minister Mr Barnier has previously said the UK will have less than 18 months to negotiate and any deal must be finalised by October 2018.

There had been speculation that talks may be delayed due to the result of last week's General Election which resulted in a hung parliament.