Britain's chancellor: closer EU relations are in our national interest | The Economist

I believe, um, that closer alignment, better trade relations with the EU is in. our national interest. The most recent. numbers suggest that the GDP here could. be worth 8% of GDP, uh, from Brexit. And. at a time when, you know, we are looking. for a stronger growth, improvements in. living standards, lower prices in the. shops, uh, you know, it would be foolish. to just carry on as we are in terms of. our relationship with the EU. >> So, that sounds like really quite an. ambitious pitch for the UK to be in step.

with the single market, and not. something that sector by sector. Is Is. that Is that how you're thinking about. it now? >> So, we do We should be ambitious because we. want the jobs, we want the investment, and we do risk being stranded between. big trading blocks, uh, and we will miss out on the. benefits, and also be at risk of. protectionist policies from those, uh, blocks. So, it makes sense to get closer. and to align, uh, more. Now, despite all.

the barriers that have been put in. place, Europe remains our biggest. trading partner. Almost half our exports. go to the European Union. And that is. why the biggest prize comes from closer. relationship with the EU. >> And given that, Chancellor, why not be. bolder? 54% of people now want to rejoin. the EU. 82% of Labour Party voters say they want. to rejoin the EU. Are your members. wrong? >> We voted as a country to leave almost 10. years ago. I voted to remain. I.

campaigned for remain. If we went back. 10 years in time, I would vote exactly. the same way again. But, we have to move on. And that period in. June. 2016 was an incredibly divisive time for. our country. And people might like to. turn back the clock and might like their. answer to have been different. But, I do think rerunning a referendum. would not be in our national interest. I. think it would be the best. >> this. The Lib Dems have promised to.

rejoin the customs union. So, if not. rejoining, what about the customs union. at least? >> What I focused on today in my speech was. around alignment with the single market. in more parts of the economy. And that. is where the biggest prize is from. alignment with the single market. Mark. Carney spoke in Davos about middle. powers. And countries that share each other's. values working more closely together. And. I I. passionately believe that we should work. together with countries that share our. values and alliances. I said in my.

speech today that we risk being stranded. between powerful trading blocks. We have. to decide where our national interest. lies. And I've done a great deal of. thinking about where I think the. opportunities for Britain is in regional. growth, in innovation and AI, and that. big prize of greater cooperation. partnership with the EU. And if we can. do those things, there's every reason to. be optimistic about our country's. future.