Chancellor John Healey to urge EU finance ministers for inclusive industrial measures
Chancellor John Healey will urge EU finance ministers not to exclude the UK from measures protecting European industry against unfair competition when he meets counterparts in Dublin on Friday, reports BritPanorama.
He is set to call for stronger partnerships spanning technology, defence and manufacturing during the Ecofin summit. According to Treasury sources, Healey will request that the EU shapes its Made in Europe procurement strategy to ensure it “lands a good deal for all” rather than “erecting new barriers”.
In his discussions, he will emphasise the importance of “learning lessons” following the breakdown of talks regarding UK participation in the EU defence loans scheme. The Made in Europe scheme, currently progressing through the European Parliament as part of its industrial accelerator act, aims to protect the continent’s manufacturing from global competition, particularly from China.
If implemented, the scheme would prioritize EU firms for public contracts and subsidies, potentially disadvantaging UK industries. Concerns have been raised that British sectors such as car manufacturing and steel could suffer if the plan excludes British firms that trade across the UK-EU border.
Prime Minister Andy Burnham warned French president Emmanuel Macron earlier this month that the “buy European” programme “could pose significant challenges” for UK industry. This meeting comes ahead of a UK-EU reset summit scheduled for the autumn, which was postponed following Sir Keir Starmer’s resignation as prime minister.
The summit is expected to address key issues, including agreements on food and drink, carbon trading schemes, closer defence cooperation, and a youth mobility scheme aimed at lowering tuition fees for EU students at UK universities. Burnham has expressed a desire for closer ties with the bloc, building on his predecessor Starmer’s efforts to reset the relationship, while adhering to the 2024 Labour manifesto’s stipulations against returning to the customs union or single market or allowing free movement.
Additionally, Healey will meet Ukrainian counterpart Sergii Marchenko for the first time at the informal talks in Dublin, reaffirming UK support for Ukraine amidst its ongoing challenges.
The dynamics of UK-EU relations continue to evolve, with industrial policy at the forefront of this particular chapter.
