Key facts
- U.K. Business Secretary Jonathan Reynolds stated that discussions about rejoining the EU cause uncertainty for businesses.
- Reynolds believes improving the trade relationship with the EU is more beneficial than pursuing EU membership.
- He advised against rejoining a customs union due to regulatory alignment requirements.
- Former Prime Minister Tony Blair has called for the U.K. to rejoin a reformed EU.
U.K. Business Secretary Jonathan Reynolds warned on Sunday that discussions about potentially rejoining the European Union are creating significant uncertainty for businesses. Speaking at the Labour Party conference in Liverpool, Reynolds emphasized that the focus should be on pragmatically improving the U.K.'s trade relationship with Brussels, rather than debating constitutional questions about membership.
Reynolds backed the current government's approach to the EU and cautioned that seeking to rejoin a customs union would necessitate accepting a broad range of regulatory alignments. His comments come shortly after former Prime Minister Tony Blair released a paper advocating for the U.K. to rejoin a "reformed" EU within the next decade. Reynolds also expressed uncertainty about the future political landscape of Europe, citing challenging politics in Germany and potential changes following the French presidential election.