Labour's Brexit Pledge: Making It Work
Building a New Trade Relationship
The Labour Party has pledged to leave the current Brexit deal and create a new trade relationship with Europe. This announcement comes after months of speculation about the party's position on Brexit, and it is a significant development in the ongoing debate about the UK's future outside the European Union.
Balancing Interests
Labour insiders say that there are two schools of thought inside the Starmer camp on Brexit. One group believes that the party should focus on making the current deal work, while the other believes that the UK should rejoin the single market. Sir Keir Starmer has said that he will pursue an ambitious twin-track strategy to build closer UK trade relations with Europe while also seeking to improve the UK's trading relationship with the rest of the world.
Challenges Ahead
Labour's plans to improve the UK's trading relationship with Europe will have minimal impact on the UK's overall trade deficit, according to a new report. The report, which was commissioned by the Labour Party, found that the UK's trade deficit with the EU is likely to remain at around £60 billion per year, even if the UK is able to negotiate a better trade deal with the EU.
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