Britain is seeking closer cooperation with the European Union ahead of next week's UK-EU summit as the government looks for areas where commercial and consumer gains exceed any policy compromises. The push centers on sectors such as food and farming, where ministers say lower red tape could ease business costs and help reduce prices.
Highlights
- Finance minister John Healey announced ahead of the UK-EU summit that the government seeks agreements lowering post-Brexit trade friction, especially in food and farming sectors.
- Healey emphasized economic gains from reduced company bureaucracy and potential relief on consumer prices, arguing these outweigh compromises needed for closer EU cooperation.
- Prime Minister Andy Burnham supports a broader UK-EU reset to boost economic growth and may consider freedom of movement, while the UK will maintain independent policies for financial services.
Summit agenda targets lower trade friction
As reported by Reuters, finance minister John Healey says the government will pursue agreements with the EU in areas where the benefits for businesses and consumers outweigh the trade-offs.Speaking to the BBC, Healey says improved post-Brexit arrangements in areas including food and farming could cut bureaucracy, reduce operating costs for companies and relieve some pressure on consumer prices. He says the Brexit deal agreed 10 years ago under the previous government is not good enough and that Britain will improve it where possible.
When asked whether closer cooperation risks creating fresh uncertainty, Healey argues the economic gains justify the compromises involved. He says the benefits to Britain, lower business costs and some relief on prices for consumers outweigh the costs.
Government keeps wider reset on the table
Prime Minister Andy Burnham has been seeking deeper cooperation with the EU since taking office, presenting a broader reset in relations as a way to support economic growth and address shared challenges.Last month, Burnham said Britain needed an honest discussion about its future relationship with the bloc and suggested freedom of movement could be considered as part of a wider package of cooperation. Healey, however, draws a distinction for financial services, saying Britain will continue to forge its own way in that sector.
We have also looked at Europe’s macro policy debate on balancing inflation control, debt burdens, and long-term investment.
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