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The UK must develop a “closer economic relationship” with the EU to boost the British economy and drive up living standards, Chancellor of the Exchequer Rachel Reeves told counterparts in Brussels.
Reeves made the remarks during a meeting of EU finance ministers, the first time that a British chancellor of the exchequer had attended the gathering since the UK left the bloc.
She told European ministers on Monday that there “must be a closer economic relationship between the UK and the EU,” in terms of confronting shared global challenges, openness, and competition, and “by deepening our economic ties.”
The chancellor said that Brexit “is expected to cause UK trade intensity to fall by 15% and with goods exports between both the UK and EU continuing to remain below 2018 levels, this is impacting UK and EU economies alike.”…
