The UK and EU are aiming for a “moment of hope” to clinch a breakthrough on the Northern Ireland Protocol before the end of the month, as negotiations over the Brexit trade rules broke up on Friday night without any significant progress.

Liz Truss, the Foreign Secretary, and her European counterpart, Maros Sefcovic, believe they could break the deadlock when they next meet on Feb 21 for a session of the UK-EU Joint Committee.

A Government source told the Telegraph: “We’re absolutely trying to do something by February, we’re not going to give up, but it’s hard to say what the EU is trying to do.”

Both British and European negotiators were left perplexed by reports that Ms Truss was set to table a “big offer” when she welcomed Mr Sefcovic, a European Commission vice-president, to Carlton Gardens in London on Friday in a possible compromise.

The Telegraph understands the negotiators could instead wait until the Joint Committee session in less than 10 days to unveil progress ahead of the upcoming Stormont elections, scheduled for May 5.

‘Big gaps remain’

“Discussions have been constructive, but big gaps remain between the two sides,” a second source added.

In a joint statement, Ms Truss and Mr Sefcovic “agreed on the need for progress in their talks in the interest of the people in Northern Ireland”.