Former chancellor Rachel Reeves urges closer United Kingdom economic links with Europe

Former Chancellor of the Exchequer Rachel Reeves stated that Brexit made the United Kingdom poorer and weaker, and argued that the nation must build a new relationship with Europe. The News International, Oxford Mail, and ITVX reported her comments, while Politico reported that Reeves believes the future of the United Kingdom lies within the European Union. Guardian Business reported that her comments came during a speech delivered six months ago, where she stated that Brexit did deep damage. [1][3][4][5][6]

Guardian Business reported that the views of Reeves align closely with the economic priorities of Prime Minister Andy Burnham, who previously removed her from the position of chancellor. Burnham has long advocated for re-evaluating the approach of the nation to Brexit, devolution, and investment. The News International reported that Reeves supported Burnham on Brexit issues and supported returning to the European Union. [1][5]

Reeves served as Chancellor of the Exchequer from 2024 to 2026 before her removal. Burnham became Prime Minister of the United Kingdom and Leader of the Labour Party in July 2026. He previously served as the Mayor of Greater Manchester from 2017 to 2026 after serving as a cabinet minister and Member of Parliament. [7][8]

The comments on trade policy come alongside broader political interventions across the economy. As FTMQ Business reported earlier, the administration led by Burnham has prepared support for British workers following high-profile corporate restructuring and expanded state funding for housing projects in England. [10][11]