A Treasury minister has described Britain's return to the European Union as an inevitability, sparking debate in the House of Lords. Lord Livermore expressed his personal view that the UK would eventually rejoin the 27-member bloc, despite the government's official stance against it.
Speaking at the despatch box, Lord Livermore was challenged by Conservative peer Lord Mackinlay of Richborough, who argued that the Labour government is benefiting from Brexit dividends such as zero tariffs and the ability to use subsidies. Lord Mackinlay cited the government's consultation on suspending tariffs on certain agricultural goods and the Steel Industry (Nationalisation) Bill as examples of powers retained after leaving the EU.
Lord Livermore countered that such measures only marginally improve GDP, while Brexit has cost the UK at least 4% of GDP. He said: 'The idea that is some kind of Brexit benefit is absolutely absurd.' He added that rejoining the EU is 'absolutely in our national economic interest' and that the current 'European reset' is crucial for growth.
Labour's 2024 manifesto committed to staying outside the EU, single market, and customs union, but pledged to reset relations with European allies. The comments come a decade after the 2016 referendum, which saw 52% of voters choose to leave the EU.
