Reeves Proposes EU Rule Alignment for UK Growth

0:00On March 17, UK chancellor Rachel Reeves sparked controversy this week with a speech calling for closer alignment with some European Union rules. She argued that Brexit inflicted deep economic damage, pointing to studies estimating a hit of up to 8% of gross domestic product. Speaking at Bayes Business School in London, she said following EU regulations in key areas would boost growth and serve Britain's national interest. These outline new principles to guide decisions on alignment, focusing on economic benefits and security. She stressed this approach would be chosen freely as a sovereign nation, but made clear there would be no return to the single market, customs union, or free movement of people. The move aims to ease costs for businesses and consumers hit by Brexit. Critics quickly pounced, accusing her of undermining the 2016 referendum vote. Farm UK's Robert Generic argued for using Brexit freedoms, like scrapping value add attacks on energy bills to lower costs.

1:00Former Minister Simon Clark and think tank leaders called it a betrayal. Warning enhanced control back to Brussels and risks self-harm. The speech comes amid broader UKEU talks, with lawmakers urging more ambition on shared goals, like defense cooperation. Reeves acknowledged global tensions from the Middle East War, but resisted calls to speed up defense spending targets beyond current plans. As the bait heats up over Brexit's legacy, Reeves insists her path forward prioritizes Britain's economy without reversing the divorce from Europe.