If in doubt… blame Brexit! Rachel Reeves says quitting EU left Britain ‘stranded’ as she pushes for ‘deeper relationship’

Rachel Reeves has called for closer ties as she insists Brexit risks leaving Britain ‘stranded’ today.

In a major speech, the Chancellor talked about the need to get closer to Brussels again; He suggested that their main goal is to take advantage of artificial intelligence and expand outside London.

However, he denied that the massive tax raids on the British were wrong in terms of economy and argued that the country had become ‘stronger’ as a result.

The comments came as Ms Reeves delivered the Mais lecture at Bayes Business School in London, where she outlined her strategy to boost growth.

Keir Starmer has promised a ‘reset’ on relations with the EU, which critics have branded as an attempt to unwind Brexit; but the Prime Minister insists the UK will not rejoin the customs union or single market.

However, there are disruptions in the talks due to Brussels’ demands such as concessions on student fees and a ‘free movement’ plan for young people.

Pointing to the new US approach under Donald Trump, the Chancellor said it had become clear that ‘globalization as we once knew it was dead’.

And he moved ahead with Labor’s decision to leave the EU, which it strongly opposed in 2016.

‘Brexit has created deep uncertainty, raised new barriers to trade and leaves Britain facing an additional danger today: the risk of finding ourselves trapped between powerful trading blocs as globalization recedes,’ he said.

Chancellor Rachel Reeves speaks to an audience at Bayes Business School in London today

Prime Minister Sir Keir Starmer stands next to European Commission President Ursula Von Der Leyen during a bilateral meeting at the Munich Security Conference on February 14

Ms Reeves said: ‘Britain is not powerless in this changing world. We can shape our own future. Our method is stability, investment and reform through an active and strategic state.

‘Today I make three big choices on the biggest growth opportunities for Britain over the next decade: growth across Britain, artificial intelligence and innovation, and a deeper relationship with the EU.

‘Our plan is clear. ‘Building for growth, supporting innovation and making Britain where the industries of the future are created.’

The intervention came after Ms. Reeves said in an interview that she preferred European Commission President Ursula von der Leyen to Mr. Trump.

‘I believe our future is closely linked to Europe’s,’ he said.

Ms Reeves, who defended the tax raids despite signs the economy was slowing, said: ‘I don’t believe we would be in a stronger place today if we had gone in with higher inflation, higher interest rates, higher borrowing or collapsing public services.’

But he also acknowledged the tumultuous start to the period when Labor came to power.

‘I won’t pretend that the last 18 months haven’t been without challenges. “There were arguments before the election that we had won in principle on accountability, growth and careful prioritization, and I saw that these had to be fought and won over and over again, convincing people in practice,” he said.

Admitting that he had been skeptical after failed attempts to deliver regional growth in the past, he said: ‘Each region of Britain can carve out its own niche in industries vital to the prosperity and security of the UK, drawing on the skills of their workforce, their existing industrial strengths and the natural assets on which they are built.

‘That’s why we stepped in to deliver a future for shipbuilding in Belfast, car manufacturing in the West Midlands and steel in Port Talbot and Scunthorpe. And the Business Secretary will publish the Government’s steel strategy on Thursday to secure the long-term future of British-made steel.’

Regional leaders will take ‘control of their share of some national taxes’, including income tax.

Ms Reeves said she would set out ‘a roadmap for future fiscal devolution’ in the next Budget.