Improving profession connections with the European Union can enhance the economic situation and increase living criteria, Rachel Reeves asserted, as she participated in a conference of EU money priests.
She stated ending up being the initial Chancellor to go to a conference of European equivalents because Brexit was a “milestone moment” as the UK looks for to “reset” its partnership with Brussels.
It is “in our national interest to have more normal trading relations with our nearest neighbours and trading partners”, she stated.
Ms Reeves informed press reporters in Brussels: “Economic growth is not a zero-sum game.
“Countries right across Europe, inside and outside the European Union, including the UK, have struggled with low growth, poor productivity and stagnant living standards these last few years.
“Competitiveness and trade, crucially, are really important for driving productivity and growth.
“And so, as we reset our relations, it is with the purpose of growing our economy and improving living standards for ordinary working people.”
German money priest Jorg Kukies stated it was a “good signal” that the Chancellor was seeing Brussels, yet recommended there were limitations to what can be attained within the Government’s red lines of not rejoining the solitary market or customizeds union.
He stated: “It’s a good signal that there is this dialogue now and that there are these ideas.
“But of course, the new British Government has made commitments to the British electorate and I don’t think it would be appropriate for us to call those into question, because those are part of the electoral platform on which it was elected.”
Asked if he wished to be as enthusiastic as feasible on reducing profession obstacles, Mr Kukies stated: “Germany is a very open country to trade, and we’ve seen that the intensity of trade with the United Kingdom has gone down quite substantially, if I measure it against our trade partners in the world.
“We used to do a lot more on relative basis with United Kingdom than we are doing now, and we are very actively looking to diversify our trade partners and to do more in terms of trade.
“So, of course, any progress would be highly welcome, but we completely understand that the UK population has taken a different decision. And we have to respect that.”
Chancellor Rachel Reeves speaks with the media as she shows up for a conference of eurozone money priests at the European Council structure in Brussels (Virginia Mayo/ AP)
Ireland’s Jack Chambers stated Ms Reeves’ existence at the conference of eurozone money priests noted the “turning of a new leaf” in UK-EU relationships.
He stated it was “an important day in terms of wider EU-UK reset of relations”, including: “I think the fact that, as a starting point, the British Government wants to have such an engagement compared to what was there in the previous number of years, where we had a very different type of language from the British Government, is welcome.”
Paschal Donohoe, the Irish public investing priest and head of state of Eurogroup, stated Monday had actually not had to do with setting out “detailed views regarding what the future could like” yet rather establishing the tone for settlements as a result of begin in the brand-new year.
“The issue of fisheries, of youth mobility, all those other matters are for another day. Instead what we had was an exchange of views and a reminder of what we have in common,” he later on informed an interview together with the Chancellor.
Ms Reeves stated: “I did not come here today to start a negotiation or to lay down a set of demands. Those conversations about the reset and those negotiations will begin in the new year.
“But what I was aiming to do today was to begin to rebuild those bonds of trust that have been fractured in the last few years under the previous government and to show our friends, neighbours and allies in the European Union that we want a reset of those relationships… I hope that’s what I achieved in the meeting today.”
Ms Reeves stated the concept that Britain or the EU must “choose between” allies was “completely wrong”.
“Yes, the UK will always remain committed to our relationship with the US… And yes, we must also find the right way to build a stable, long-term relationship with China where we recognise both the value of co-operation in addressing global challenges like climate change but also the importance of robust challenge where needed,” she stated.
“But we want to and we will seek a deeper, more mature relationship with our European neighbours too after too many years of actively looking to move away.”
Asked whether the UK Government required to be much more enthusiastic in the range of its reset with Brussels in order to enhance development, the Chancellor stated: “We got a mandate at the election in July to grow our economy and we also included in that manifesto a number of red lines in terms of our relationship with the European Union: no return to the single market, the customs union or free movement of labour.
“Those red lines remain, but subject to those we want to build closer trade relationships, but also defence and security co-operation with our neighbours and trading partners in the European Union, because it is in our collective national interest to do so.
“I recognise that the deal the previous government secured post-Brexit was not the best one for our country and indeed has reduced trade flows not just from the UK to the European Union but also from businesses based in the European Union into the UK.
“And so there is a shared objective and a shared challenge to improve those trade flows, to improve those investment flows in the interests of citizens not just in the UK but also in countries in the European Union too.”
Shadow company assistant Andrew Griffith recommended Ms Reeves must want to Donald Trump as opposed to the EU for profession development.
He stated: “If she is interested in growth, she should tell the Prime Minister to jump on a plane to the US and talk to Trump about getting a US-UK trade deal done, not trying to take Britain backwards into the slow-growth EU.”
Shadow chancellor of the Duchy of Lancaster Alex Burghart stated: “Looks like Labour’s plan is to follow EU rules for nothing in return.
“If the Chancellor wants to improve growth and trade, she should learn the lesson that clobbering businesses with high taxes and unleashing borrowing sprees will make our country less attractive, not more.”
Daisy Cooper, Liberal Democrat replacement leader and Treasury spokesperson, stated: “It’s difficult to understand why they are failing to pursue the UK-EU youth mobility scheme, which would be a good first step, provide a boost to the economy and give young people opportunities to live and work across Europe.”
