The Guardian view on Rachel Reeves and the EU: the right ambition is held back by outdated red lines | Editorial

"Ms Reeves returned to an argument she first made in opposition, about the growing need for government intervention to mitigate public anxiety and destabilising volatility in a dangerous world. She calls this securonomics and it is intended as a rebuttal to the laissez-faire, small-state theories that, as applied by Conservative governments, starved Britain of investment, amplified regional inequalities and created the fallacious case for Brexit."

"To boost growth, the chancellor calls for an activist government, not necessarily a bigger one; partnering with the private sector, but also cutting regulation and devolving economic power to regional leaders. In a welcome break from Treasury orthodoxy, Ms Reeves is considering giving devolved institutions control over major tax revenues that have traditionally been hoarded in Whitehall."

"Ms Reeves took that a step further this week, noting the strategic imperative for deeper integration between the UK and EU and observing that no trade deal with any individual nation can outweigh our relationship with a bloc with which we share a land border and that accounts for almost half of Britain's trade."

Chancellor Rachel Reeves delivered a detailed Mais lecture outlining her economic philosophy of 'securonomics,' which emphasizes government intervention to mitigate public anxiety and economic volatility. She argues this approach rebuts Conservative laissez-faire policies that starved Britain of investment and amplified regional inequalities. Reeves proposes an activist government that partners with the private sector while cutting regulation and devolving economic power to regional leaders. Notably, she advocates giving devolved institutions control over major tax revenues traditionally held by Whitehall. The speech marked a significant shift in rhetoric toward the European Union, with Reeves making a forthright case for Britain's realignment with the EU single market and emphasizing the strategic imperative for deeper UK-EU integration, representing a notable departure from Treasury orthodoxy.

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