News

Chancellor’s Speech: EU reset the most effective way to grow the economy

The Chancellor is today facing calls to deepen UK and EU ties after a significant speech outlining how she intends to drive economic growth.

 

In a speech a a Siemens facility in North Oxfordshire, Rachel Reeves set out a series of ambitious proposals aimed at tackling sluggish growth and revitalizing infrastructure across the country.

Among the key announcements was the Government’s official backing for a third runway at Heathrow Airport, new rail, road and reservoir infrastructure projects, cutting regulations, and the development of "Europe's Silicon Valley" between Oxford and Cambridge.

In her remarks, the Chancellor acknowledged the challenges to growth created by the last government's Brexit deal and committed to working with the EU but did not cite any specific policy proposals.

Naomi Smith, CEO of Best for Britain which campaigns for closer EU-UK ties said,

“Five years on from Brexit there is now no debate that the artificial trade barriers it created remain a key blocker to growth and the Chancellor again acknowledged this today - but the time has come for this Government to turn warm words into action. 

“Unlike a new runway at Heathrow, beneficial regulatory alignment with our largest market and a EU-UK youth mobility scheme won’t take a decade to deliver and can drive growth for all parts of the UK.”