Reeves argues for deeper trade partnership with EU

""The truth is economic gravity is reality," she added, explaining that half the UK's trade was with the EU, almost as much as with "the whole of the rest of the world combined". "I strongly believe that Britain's future is inextricably bound with that of Europe's for economic reasons, but also reasons of security, resilience and defence," she said."

"Chancellor Rachel Reeves has made the case for a deeper trade relationship with the EU, describing it as "the biggest prize". Sir Keir Starmer's government has consistently worked to "re-set" the relationship with Brussels following Brexit in January 2020, although he has pledged not to return to the single market, customs union or free movement. Reeves said further integration with the UK's biggest trading partner would drive economic growth and improve security in a speech at the London School of Economics on Wednesday."

The UK government is pursuing a deeper trade relationship with the EU and describes that partnership as its biggest economic prize. Relations with Brussels have been reset since Brexit while the government maintains it will not rejoin the single market, customs union or restore free movement. Greater integration with the EU is expected to boost economic growth, strengthen security, resilience and defence, and justify alignment with EU regulatory standards where it serves national interest. Half of UK trade is with the EU. Since 2024, the government completed trade deals with the EU, the US, India and South Korea. Political opponents warn of betraying Brexit or call to rejoin the customs union.

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