Britain and the EU have made a last-minute breakthrough in negotiations on a major reset of relations, believed to be about fishing rights, just before the start of the austerity summit in London.

After late-night talks, Keir Starmer was preparing to host the European Commission President Ursula von der Leyen in London on Monday morning, with stumbling blocks including a timetable regarding the EU fishermen’s UK water access, as well as inspections of food and similar products.

A British source said on Monday morning that the "breakthrough was late", although there are still some details to be completed and expected to be updated in the early morning.

Fishing appears to be the core of the last minute battle, with reports that Britain and the EU have agreed to a 10-year vessel that is just a ship entering British waters from Britain, beyond the four-year contract proposed by the Starmer government.

Brussels has contacted fishing with agreements to sell sales of food, animals and other agricultural products called sanitary and phytosanitary goods. The EU recommends fixing it within the same time frame as fish.

Trade and Commerce Secretary Jonathan Reynolds spoke earlier on Monday, refusing to say whether a deal was reached, but said it provided a "real prize" for the UK.

"The current transactions are not only about trade, but also about security," he told the Times radio. "So it's about making people better, making the country safer, and ensuring more work in the UK."

Although Downing Street insists that the meeting in London is part of a process, not part of an event, that any topic that disagrees with can continue to be negotiated, overnight negotiations are similar to sometimes chaotic negotiations about the initial Brexit departure.

In addition to fishing and a simpler EU food export process, negotiations focus on providing UK companies with better EU defense funding, the possibility of a shared youth mobility program and the way for travelers to allow UK travelers to quickly enter the EU through E-Passport Gates.

Although the industry contributed relatively low to the UK GDP, phishing was a large part of the initial Brexit negotiations, while the Conservatives and Reforms warned that no deal would sell the UK to any deal that the British fishing fleet would be sold.

Mike Cohen, CEO of the National Federation of Fishermen's Organizations, said Monday morning that the industry's response will depend on what is obtained in exchange for any long-term gains into British waters.

“If a deal is completed for a long time, the question for me is: What have we achieved for this?” he told BBC Radio 4’s Today show. “If we bring some benefits to the fishing industry, the fishing community, then it might be worth it. It’s all about the details.

“If we get nothing about it, for fishermen and their businesses, the community that relies on them, from our perspective, it would be a very bad deal.”