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Britain's Brexit minister David Davis has disclosed that although Britain wants to negotiate a deal with the European Union post-Brexit, it is prepared to walk away from the negotiation table without a deal.

Davis made these comments during the annual conference of the Conservative Party. He said that the country was taking cautious steps not to fail in their negotiations but were also "contingency planning" to cover all scenarios.

"On the negotiating front, we are aiming for a good deal. And that is what we expect to achieve. However, if the outcome of the negotiation falls short of the deal that Britain needs we will be ready for the alternative," Davis said.

"That is what a responsible government does. Anything else would be a dereliction of duty."

Davis also took time to critise the Labour party for having an unclear position regarding Brexit.

"This is the most complex negotiation you could imagine, where one oversight, one error could cost the taxpayer billions of pounds," he said.

The Brexit Minister also disclosed that Britain was nearing agreement with the EU on citizens rights - one of three issues to be settled in the first round of negotiations.