TALKS on a trade deal between Britain and the European Union have been extended after failing to reach an agreement by today’s deadline.

Acknowledging the lack of progress towards a deal, Boris Johnson said that Britain must “get ready” for trading on World Trade Organisation (WTO) terms from January 1.

The Prime Minister reiterated that there are “some serious and very, very difficult issues” remaining to be resolved, while insisting that his negotiating team “will not walk away.”

Referring to his dinner with European Commission president Ursula von der Leyen last Wednesday evening, he said that both sides are “still very far apart on some key things.”

The three sticking points are whether EU fishing boats will be allowed to work British waters, “level playing field” rules for this country’s continued access to the EU single market, and rules on governance and settling disputes.

In a joint statement today, Mr Johnson and Ms von der Leyen said: “Despite the exhaustion after almost a year of negotiations, despite the fact that deadlines have been missed over and over, we think it is responsible at this point to go the extra mile.”

Communist Party of Britian general secretary Rob Griffiths told the Morning Star that Mr Johnson and the EU are intent on agreeing a deal because “they share a common objective.”

He said: “This is to serve the interests of big business while ensuring that post-Brexit state aid will not be used by British, Scottish or Welsh governments to promote public ownership and public accountability.”

Shadow business secretary Ed Miliband accused Mr Johnson of “playing Russian roulette” with people’s livelihoods by threatening a “disastrous” no-deal Brexit.

Asked whether Labour would vote for a deal if one were achieved, Mr Miliband said that his party would be “minded to support it.”