Boosting economic growth through EU trade ties
The public will expect the government to grab “with both hands” the opportunity to boost economic growth through closer trade ties with the EU, reports BritPanorama.
Prime Minister Andy Burnham defended plans to accept a new agreement with Brussels on food and farming while attending the Commonwealth Heads of Government Meeting in Antigua. He emphasized the importance of negotiating terms that can positively impact the UK economy.
When asked about the acceptability of having EU rules on food trade set without UK input, Burnham highlighted the upcoming UK-EU summit as a pivotal moment for enhancing UK growth. He noted, “What’s facing me two weeks on Friday is a UK-EU summit where I have the opportunity to add to UK growth.”
Burnham referenced estimates indicating that new trade agreements could contribute up to 0.4% to the UK’s GDP. He stated, “I think people in Britain would expect me to take that with both hands, given where we’ve been in recent times, and that’s what I’m doing.” The Prime Minister reiterated the need to negotiate pragmatically, acknowledging that the UK’s departure from the EU necessitates a different approach.
Burnham previously noted that a new deal could substantially impact the economy and criticized opponents for “misreading the public mood” regarding Brexit. He revealed that the Treasury had recently updated its predictions, raising the GDP estimate from 0.3% to 0.4% with potential benefits of a new agreement.
Looking ahead to the summit on November 20, Burnham aims to secure significant arrangements related to food and drink, emissions trading, and a youth mobility scheme. According to the BBC, a draft text for a food and agriculture deal has been circulated among the 27 EU members, signaling progress towards finalizing such agreements.
As negotiations advance, the government faces the challenge of balancing domestic opinions with international obligations, an ongoing dynamic in the post-Brexit landscape.
