Britain re-entering the EU in future is ‘an inevitability’, says minister
Britain’s bid to re-enter the European Union (EU) is “inevitable”, a Treasury minister has said.
He was in the mailbox when Lord Livermore shared his “personal view” that the UK would rejoin the 27-member bloc.
This month marks ten years since voters voted to leave the EU by 52 per cent to 48 per cent.
Lord Mackinlay of Richborough, against Lord Livermore, said the Labor Government had “enjoyed and used many of the Brexit dividends they have been given”.
The former Conservative MP continued: “This means zero tariffs on everything it wants.
“This is using subsidies — not a mechanism I particularly support — but using subsidies in a variety of places.”
He later added: “The government can do whatever it wants in whatever area it wants to stimulate economic growth.
“And we see that in the (King’s) Speech as well, with the potential nationalization of steel.”
The government has launched a consultation on suspending tariffs affecting a range of agricultural products including fruits, juices, pasta, couscous and tuna in response to the economic impact of the conflict in the Middle East.
The Steel Industry (Nationalization) Bill is being passed by the Parliament.
Lord Mackinlay asked Lord Livermore to say “whether he agreed with some in the Cabinet that they would like to see the United Kingdom re-enter the single market and a customs union which would stop many of the economic measures currently in the Government’s hands – these would be stopped at one blow”.
The Minister replied: “I guess it takes a real Brexit zealot to say that – you know, cutting tariffs might save us 0.001% of GDP, while Brexit itself has cost us at least 4% of GDP.
“Estimates now say it ranges from 6% to 8% of GDP.
“So we are trying to marginally mitigate the huge damage that Brexit is doing to the UK economy.
“The idea of some sort of ‘Brexit advantage’ is absolutely ridiculous.
“Should we re-enter the EU when the time comes?
“Of course, my personal opinion is that it is inevitable.”
He continued: “Of course the UK will re-enter the EU at some point because it is absolutely in our national economic interests.
“In the meantime, we’re doing the European reset, and that’s incredibly important to help grow our economy.”
In its 2024 manifesto, Labor promised to keep Britain out of the EU, the European single market and the customs union.
“But to seize the opportunities ahead, we must make Brexit work,” the document said.
“We will reset our relations and seek to deepen our ties with our European friends, neighbors and allies.”
